Number of new enterprises hits record high in 2023

The above figure rose by 7.2 per cent from the previous year and 1.2 times higher than the average rate in the 2017-2022 period.

Meanwhile, 58,412 enterprises resumed operations, bringing the total number of newly established and resumed enterprises to 217,706, an increase of 4.5 percent against 2022.

Such increase came as a result of the introduction of effective solutions and policies on cutting lending rates, stabilizing foreign currency market, accelerating public investment disbursement, providing preferential credit support packages, and reducing land rentals.

As of this April, Viet Nam had over 865,000 active enterprises, creating jobs for 14.7 million workers. Some 98 percent of them were small or medium in size.

The Government targets to raise to raise the number of businesses to 1.5 million by 2025, half of them are expected to be medium- and large-sized ones, according to its resolution adopted in 2021.

By 2030, the figure is projected to increase to at least two million firms, many of which will be large corporations capable of competing in the global market.

The Government also aims to promote research and innovation in enterprises, develop high-quality human resources, strengthen business linkages, and improve the efficiency and effectiveness of management in favor of business development./.