According to statistics of the Ministry of Planning and Investment in the first quarter (Q1) of 2006, 7,775 enterprises registered business in accordance with the Enterprise Law. The enterprises are capitalised at VND 29,063 billion. Despite a fall of eight per cent of the number of enterprises, total registered capital increased by 25 per cent.
According to the Ministry of Planning and Investment, the private sector still maintains a high growth rate in many aspects.
The sector’s budget contribution in Q1 reached 26.9 per cent of the yearly estimated figure, while the State-owned and foreign-invested sectors reached around 23 per cent of the yearly estimated figure. Industrial production value of the private sector increased by 20.4 per cent, three times higher than the State-owned and foreign-invested sectors. Private enterprises occupy a large proportion in some industrial products, such as processed seafood, medicines, rolled steel, transformers, garments and paper.
The private sector is the most dynamic in doing business with its retail sale of goods and services reaching VND 28,569 billion, accounting for 21.2 per cent of total retail sale of goods and services of the whole country. The figure was put at 11.6 per cent for the State-owned and 2.5 per cent for the foreign-invested sectors.
Also, according to the Ministry of Planning and Investment, in the first three months of 2006, total social development investment capital reached VND 70,000 billion, equal to 18.6 per cent of the yearly plan and up by 31.3 per cent over the same period of 2005. Of the figure, total State budget reached VND 16,900 billion, equal to 20.7 per cent of the yearly plan. Credit investment was around VND 4,800 billion, equal to 13.3 per cent of the yearly plan. Investment capital of State-owned enterprises was estimated at VND 11,000 billion, equal to 18.6 per cent of the yearly plan while investment capital of people and private enterprises reached VND 23,900 billion, or 18.8 per cent of the yearly plan.
In Q1 of 2006, total foreign investment capital of new projects and projects applying for increase capital reached US$2.052 billion, up by one per cent against the same period last year. Of the figure, total capital of new projects was US$1.625 billion with 215 licensed projects, up by one per cent in capital and down by four per cent in number of projects compared with the same period of 2005. Total realised capital was put at VND 11,700 billion.
Official development assistance (ODA) capital reached US$423 million, of which US$420 million came from loans and US$3 million, from non-refundable aid. This figure was cemented with agreements signed with donors from early 2006 to mid-March 2006.
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