Vietnam had over half a million enterprises in 2017

The number of active enterprises in Vietnam in 2017 was estimated at more than 560,000, an annual increase of 11%, according to the General Statistics Office (GSO).

There were a record 126,859 newly established enterprises in 2017.

Among the 63 centrally-governed cities and provinces, 19 saw an increase in the number of enterprises from the previous year, with the largest increases witnessed in Bac Giang, Thanh Hoa and Hung Yen provinces.

Meanwhile business numbers in Tra Vinh, Lam Dong, Hoa Binh and Thai Nguyen provinces fell in comparison with 2016.

GSO data released on February 6 showed that there were a record 126,859 newly established enterprises in 2017, up 15% against the previous year, with the capital per each company averaging at VND10.2 billion (US$448,800).

According to the national statistical agency, the average growth in the number of enterprises during the 2010-2016 period was 10.4% per year.

A breakdown of the economic sectors shows that the services sector had the largest number of active enterprises, at more than 354,000 as of December 31, 2016, followed by the industry and construction sector at nearly 146,400.

Meanwhile, the number of agribusinesses was very modest at 4,447.

(Source: NDO)