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Apr 30, 2022 / 06:46

Business registration in Hanoi increases by over 31% in five years

This economic census has significant meaning for making an accurate picture of the economy of Hanoi, which would serve as the basis for the city to map out its economic development strategy in the coming years.

The number of active businesses in Hanoi rose by 31.4% over the past five years to 144,741 in 2021.

The figure was part of the findings of the city-wide economic census conducted last year by the municipal Statistics Office.

 Overview of the meeting summarizing findings of the economic census. 

In addition to a rise in business registration, Hanoi also witnessed a 0.2% increase in the number of cooperatives to 1,332, while household businesses declined by 5.2% during the five years to 352,329.

The total workforce among businesses was estimated at 3.28 million, down 1.3% against 2017, of which those in business went down by 1.3%; cooperatives by 27.7%; and household businesses by  6.7%.

According to Hanoi’s Department of Statistics, the allocation of businesses and workforce is uneven among districts, as enterprises are mainly concentrated in downtown areas, and household businesses are found mainly in craft villages.

“This is the result of the socio-economic development process towards a greater focus on industry and services sectors,” noted the agency, adding the trend is a reflection of the rapid urbanization in Hanoi over the years.

In the coming time, data collected from the economic census would be comprised of reports in printed and soft versions for the city’s leaders and the public.

At the ceremony wrapping up the economic census, Vice Chairman of the Hanoi People’s Committee Ha Minh Hai said the scope of the data collection in Hanoi is second only to Ho Chi Minh City with over 534,842 respondents.

“This 2021 economic census has been revised in methodology to stay in line with the ongoing socio-economic situation by adopting IT and technologies to ensure greater efficiency in data collection,” Hai said.

According to Hai, this economic census has significant meaning for making an accurate picture of the economy of Hanoi, which would serve as the basis for the city to map out its economic development strategy in the coming years.