Vietnam Licenses 43,320 New Enterprises in 2006

Vietnam granted licenses for 43,320 small and medium-sized businesses last year worth a total registered capital of over VND125 trillion ($7.86 billion, representing annual growth of 113 per cent, the Department for Small-and Medium-sized Enterprises’ Development reported.

 

Of the total, up to 60 per cent of enterprises belong to Ho Chi Minh City, Hanoi, Da Nang and Hai Phong, according to department. It also revealed that some 24,380 newly-licensed companies operate as limited model.

 

In the year, four partnership companies were set up, three in Ho Chi Minh City and one in Gia Lai.

 

Vietnam has a goal of as many as 500,000 enterprises by 2010, said chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc Vietnamese at the meeting to celebrate Entrepreneurs' Day (October 13).

 

However, it is quite challenging for Vietnam to raise the number of businesses to 500,000 by 2010 from just over 245,000 at present, he said, adding that the difficulty is not only achieving a 2.5-fold increase in numbers, but to sharpen these enterprises’ competitiveness in global integration.

 

(Investment)