With the rapid implementation of support policies from the Vietnamese Government, the number of enterprises returning to the market in 2022 has increased after two years of problems posed by Covid-19.

According to figures from the Business Registration Management Agency at the Ministry of Planning and Investment (MPI), 60,178 enterprises entered or re-entered the market in the first quarter, up 36.7 per cent year-on-year. The number of newly-established enterprises totaled 34,590, up 18.1 per cent.

Newly-registered enterprises in Ho Chi Minh City rose 24.1 per cent and 6.6 per cent in Hanoi. The increases demonstrate the efforts and entrepreneurial spirit of the local business community as well as the opportunities on offer, according to Mr. Bui Anh Tuan, Director of the Agency.

Many economists believe that 2022 will continue to be a challenging year for Vietnam’s economy, so it is necessary to promote administrative reform and remove obstacles in the production and business activities of enterprises in order to help them quickly recover. The government also needs to speed up business support programs such as loans with preferential interest rates and digital transformation support for enterprises in all fields. The business environment must be more substantive to meet the requirements of international competition.