Enterprises

If only 10% of current five million business households in Vietnam are formalized into enterprises, the task would become more feasible.

The satisfaction of enterprises and citizens is the gauge of Hanoi’s governance.

Up to now, the number of businesses who can access preferential loans is very small. Many enterprises have been craving for banks’ loans to hold out until the pandemic is over.

Many enterprises are now mapping out short-term business strategies of up to three years, given growing global uncertainties.

Hanoi aims to have 100% of enterprises using e-invoices before September 30, 2020.

The number of newly established enterprises in Vietnam in the first six months of 2020, however, fell 7.3% year-on-year to 62,000.

The number of enterprises resuming operations in April surged 40.4% year-on-year, indicating enterprises are preparing for a restart once the pandemic is contained.

The private sector made up 97% of total enterprises nationwide reporting business results as of end-2018, with 43.7% of the sector generating profits and 48.6% suffering losses.

Covid-19 could take a heavy toll on Hanoi-based enterprises’ operation if it could not be contained in a couple of months to come.

Over 93% of enterprises in Vietnam would benefit from such a prolongation.