7,000 Vietnamese Firms Go Bankruptcy So Far
Up to 7,000 firms in Vietnam reportedly have closed so far this year while 3,000 others are halting their operations due to impacts of the global downturn, according to an official of Vietnam’s tax authorities.
Nguyen Van Huyen, vice head of Vietnam’s General Taxation Department released the figures at a meeting with representatives of small and medium enterprises held in Hanoi on March 18.
“The real figures are much higher,” Huyen said, quoting the figures of the Vietnam Chamber of Commerce and Industry.
“About 20 per cent of the total firms are at risks of closures if they do not gain access to loans,” the Vietnam Association of Small and Medium Enterprises said.
The Ministry of Planning and Investment said that Vietnam has 349,309 companies with a combined registered capital of VND1,389 trillion (US$86.812 billion) with 95 per cent of which being SMEs. (VietnamNet)
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