Vietnamese enterprises see sharp profit fall
Vietnamese enterprises saw a sharp decrease of profits in the 2010-2015 period compared to the previous five years, according to the General Statistics Office (GSO).
The information was released at a press conference in Hanoi on April 11.
In the 2010 - 2015 period, Vietnamese firms' taxes paid to the state budget annually increased by 11.6% on average, lower than the rate of 21.1% of between 2000 and 2010.
The GSO reported that the investment also decreased by 25% per year on average in the 2000 - 2010 period, compared to just 14% of from 2010 to 2015.
Pham Dinh Thuy, a representative from the GSO, said that the Vietnamese economy has seen a fast development but lacked efficiency. Up to 97% of Vietnamese businesses have small and medium-sized scale. Among those, nearly 60% of companies have less than 10 employees with out-of-date technologies.
In the first quarter of this year, Vietnam licensed 26,478 new businesses in the first quarter of this year worth VND271.2 trillion (USD12.3 billion). The number of newly-licensed enterprises in the January-March period increased 11.4%, compared to the same period of last year, while the capital increased 45.8%.
However, GDP growth between January and March slowed down at 5.1%, compared to 5.48% during the same period in 2015 and 6.12% of 2015. According to the GSO, it was partially because many newly-established businesses have not yet been operated or operated with very low revenues.
The information was released at a press conference in Hanoi on April 11.
Up to 97% of Vietnamese businesses have small and medium-sized scale.
The GSO under the Ministry of Planning and Investment reported that the average profit growth of Vietnamese businesses between 2010 and 2015 was only 7.5% annually against the rate of 24.1% in the 2005-2010 phase, representing a fall of 60% in profits.
In the 2010 - 2015 period, Vietnamese firms' taxes paid to the state budget annually increased by 11.6% on average, lower than the rate of 21.1% of between 2000 and 2010.
The GSO reported that the investment also decreased by 25% per year on average in the 2000 - 2010 period, compared to just 14% of from 2010 to 2015.
Pham Dinh Thuy, a representative from the GSO, said that the Vietnamese economy has seen a fast development but lacked efficiency. Up to 97% of Vietnamese businesses have small and medium-sized scale. Among those, nearly 60% of companies have less than 10 employees with out-of-date technologies.
In the first quarter of this year, Vietnam licensed 26,478 new businesses in the first quarter of this year worth VND271.2 trillion (USD12.3 billion). The number of newly-licensed enterprises in the January-March period increased 11.4%, compared to the same period of last year, while the capital increased 45.8%.
However, GDP growth between January and March slowed down at 5.1%, compared to 5.48% during the same period in 2015 and 6.12% of 2015. According to the GSO, it was partially because many newly-established businesses have not yet been operated or operated with very low revenues.
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