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Nearly 70,000 businesses were newly established in 2012, but more than 54,000 existing businesses were dissolved during the year. 

As of late December 2012, over 475,000 businesses are currently operating.

The information was announced at a January 4 press conference by Le Quang Manh, Head of the Business Registration Management Agency under the Ministry of Planning and Investment (MoPI).

The MoPI General Statistics Office (GSO) reported that as of July 1 2012, Vietnam had nearly 5.2 million economic and administrative units—an increase of 27.7 percent on 2007.

The average number of workers in individual units hit 22.5 people, 38.6 percent higher than in 2007.

GSO Deputy Head Tran Thi Hang said that despite the data revealing an expansionary trend, the units’ growth rates are slower than over the 2002–2007 period. By January 1, 2012, the country had nearly 342,000 existing enterprises, 2.7 times higher than in 2007, of which 313,000 are currently operating. They employed 10.9 million workers, up 65 percent compared to 2007.

The survey also illustrated the economy’s gradual structural shift towards the service sector, the unequal growth of economic and administrative units depending on their areas of operation, and the continuing trend of developed socialisation, especially in education and healthcare.

Source: VOV online

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