WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / News / Viet Nam
48% of enterprises in Vietnam reporting losses: White paper
Ngoc Thuy 12:43, 2020/04/29
The private sector made up 97% of total enterprises nationwide reporting business results as of end-2018, with 43.7% of the sector generating profits and 48.6% suffering losses.

Among 610,637 enterprises that had reported business results as of December 31, 2018, 269,169 earned a profit, or 44.1% of the total, and 295,731 operated at a loss, or 48.4%, according to a white paper released by the General Statistics Office (GSO) on April 28.

 Data: GSO. Graphic: Ngoc Thuy. 

These enterprises employed a workforce of 14.82 million, up 2.1% year-on-year, with the majority (9.4 million) working in the industry and construction sector, or 63.4% of the total.

The services sector made up the largest proportion of the number of enterprises with 419,262, or 68.7% of the total, up 7.3% year-on-year. However, only 179,193 enterprises, or 42.7% of the total, were profitable, and 208,499 suffered losses, or 49.7%.

The industry and construction sectors came second with 184,531 enterprises, or 30.2% of the total, up 12.4% year-on-year, in which the percentages of enterprises making profits and losses were 47.6% and 45.5%, respectively.

Meanwhile, the agro-forestry-fishery sector was in the third place with 6,844 enterprises, or 1.1% of the total, up 25.3%. Of the figure, 2,166 were profitable, or 31.7% of the total, and 3,218 reported losses, or 47%.

According to the white paper, Vietnam had 2,260 state-owned enterprises at the end of 2018, accounting for 0.4% of the total and down 9.1% against late 2017. Among those firms, 1,773 made profits, or 78.5% of the total, and 436 run at a loss or 19.3%.

The private sector made up 97% of total enterprises nationwide with 591,499, up 9.2% year-on-year. However, only 258,722 generated profits, or 43.7%, and 287,469 suffered losses, or 48.6%.

The foreign-invested sector accounted for 2.7% of the total with 16,878 enterprises, up 4.3% year-on-year, in which 51.5% reported profits and 46.6% recorded losses.

In terms of business size, micro-sized companies form the largest base of the economy with 382,444, accounting for 62.2% of the total and up 7.4% year-on-year; 189,879 were small-sized, or 31.1% of the total, up 13%; 21,306 were of medium size, or 3.5% and up 6.1%; and 17,008 enterprises were large-sized, or 2.8%, up 5%.

As of end-2019, Vietnam had a total of 758,610 operational enterprises, up 6.1% year-on-year.

Ho Chi Minh City, Da Nang and Hanoi were the top three cities with the highest ratios of business establishments per 1,000 population, standing at 26.5, 19.8, and 19.3, respectively, significantly higher than the national average of 7.9.

RELATED NEWS
TAG: Vietnam white paper gso enterprises private sector FDI state-owned enterprises SOE
Other news
13:39, 2024/11/05
Vietnam news in brief - November 5
Read The Hanoi Times news in brief for the latest developments on Vietnam
13:31, 2024/11/05
Prime Minister leaves Hanoi for regional events in China
Vietnam is an active party to these mechanisms, demonstrating its commitment to regional benefit, enhancing cooperation efficiency, and mobilizing external resources for national development.
14:11, 2024/11/04
Vietnam news in brief - November 4
Read The Hanoi Times to find out what is happening in the country.
14:17, 2024/11/02
Vietnam news in brief - November 2
The Hanoi Times News in Brief provides the latest developments in the country.
04:53, 2024/11/02
Vietnam opposes China’s military activities on Tri Ton Island
Vietnam demanded that China respect its sovereignty in the East Sea (South China Sea), release the fishermen and their boats, and compensate them.
16:14, 2024/11/01
Vietnam to study BRICS statute: Spokesman
Vietnam has been and will continue to be an active and responsible actor in multilateral mechanisms and forums.