Assessment of top 500 private enterprises released
The Vietnam Institute for Development Strategies, the Ministry of Planning and Investment, and Konrad-Adenaeur-Stiftung Vietnam (KAS) on August 31 release the assessment of the top 500 Vietnamese private enterprises (VPE500) in the 2021-2022 period. (Photo: VNA)
The Vietnam Institute for Development Strategies, the Ministry of Planning and Investment, and Konrad-Adenaeur-Stiftung Vietnam (KAS) on August 31 held a workshop on the assessment of the top 500 Vietnamese private enterprises (VPE500) in the 2021-2022 period when Vietnam’s economy was hit by the COVID-19 pandemic.
At the end of 2021, Vietnam had 694,200 private enterprises, accounting for 96.6% of the total operating ones, and employing 58.1% of the total workers. The private enterprises’ assess and net revenue made up 59.3% and 57.8% of all enterprises in Vietnam, respectively.
At that time, only 0.22% of private enterprises in Vietnam had a size of 500 workhands and more while the rates in foreign-invested enterprises ad State-owned enterprises were 8.29% and 19.52%, respectively.
According to the assessment, the VPE500 group operates outstandingly and still maintains a good growth rate compared to domestic private enterprises in general.
During 2019-2021, the average size and total assets of the VPE500 member enterprises were 160 and 376 times higher respectively than those of other private companies in general.
The VPE500 accounts for a small proportion of the number of businesses but makes a large contribution to the operation of the domestic private enterprises.
Between 2019 and 2021, on average, VPE500 accounted for only 0.075% of the total number of domestic private enterprises but created 12% of total jobs in the domestic private sector.
VPE500’s assets accounted for 28% of total and generated 18.4% of the gross revenue of domestic private enterprises. Its contribution to the state budget accounted for 18.4% of the total by all domestic private enterprises.
Illustrative photo (Photo: baodautu.vn)
Dr Nguyen Toan Thang, head of VIDS’s International Relations Department and member of the VPE500-2023 research team, said that although present in 53 out of the 63 provinces and cities across the country, about 75% of the VPE500 are in the Red River Delta and the southeast.
In general, the VPE500 is formed based on the infrastructure, resources, and market advantages of localities. A majority of the VPE500 are operating in the manufacturing, processing, trade, and construction industries.
Enterprises operating in real estate, construction, commerce, garment, and food processing which were heavily hit by COVID-19 are no longer listed in this year’s VPE500.
Meanwhile, businesses in the banking and insurance sectors still maintain their positions in the rankings. They are at high rankings and see few changes in rank.
Thang said that policies for businesses in the coming time should not only facilitate businesses in entering the market but also support them to survive and grow. In particular, large enterprises should be encouraged to make more investment to improve productivity and gradually shift to in-depth growth.
The Government should have policies to promote business linkages, encouraging large enterprises, State-owned enterprises, and foreign-invested ones to form joint ventures and link with domestic small- and medium-sized enterprises.
Each locality should develop its leading private enterprises based on local advantages./.
Related News
Enterprises focus on Tet care for employees
18:59 | 22/12/2024 Headlines
Numerous FDI enterprises face suspension of customs procedures due to tax debt
09:57 | 18/12/2024 Anti-Smuggling
Enterprises face difficulties in tax refunds due to partners closing
10:01 | 17/12/2024 Finance
Answering many questions from businesses at dialogue conference on tax and customs policies
10:01 | 17/12/2024 Finance
Latest News
UK a niche market for Vietnamese speciality coffee
14:11 | 23/12/2024 Import-Export
Vietnam-US trade thrives on effective mechanisms: trade counsellor
14:08 | 23/12/2024 Import-Export
Opening of overseas markets boosts coconut exports
13:59 | 23/12/2024 Import-Export
Increasing consumption demand, steel enterprises face many opportunities
11:08 | 23/12/2024 Import-Export
More News
VN faced with increasing trade defence investigations on rising protectionism
18:58 | 22/12/2024 Import-Export
Việt Nam expects to officially export passion fruit to the US next year
18:55 | 22/12/2024 Import-Export
UK’s carbon tax to affect VN exports
18:51 | 22/12/2024 Import-Export
Removing obstacles in granting certificates of exploited aquatic products
13:56 | 22/12/2024 Import-Export
Promoting agricultural exports to the Japanese market
13:55 | 22/12/2024 Import-Export
Agricultural exports in 2024 to exceed 60 billion USD?
13:53 | 22/12/2024 Import-Export
Seafood exports expected to exceed $10 billion in 2025: expert
20:28 | 21/12/2024 Import-Export
Top 10 Reputable Animal Feed Companies in 2024: Efforts to survive the challenges of nature
18:30 | 21/12/2024 Import-Export
Vietnam's import-export surges 15.3%
09:44 | 20/12/2024 Import-Export
Your care
UK a niche market for Vietnamese speciality coffee
14:11 | 23/12/2024 Import-Export
Vietnam-US trade thrives on effective mechanisms: trade counsellor
14:08 | 23/12/2024 Import-Export
Opening of overseas markets boosts coconut exports
13:59 | 23/12/2024 Import-Export
Increasing consumption demand, steel enterprises face many opportunities
11:08 | 23/12/2024 Import-Export
VN faced with increasing trade defence investigations on rising protectionism
18:58 | 22/12/2024 Import-Export