Hanoi (VNA) – Reform momentum generated by Resolution No. 68-NQ/TW on private economic sector development, along with improvements to laws governing investment and business activities, has helped drive a rise in enterprises entering the market in the early months of the year.
Deputy Minister of Finance Nguyen Duc Tam said the resolution, issued by the Politburo on May 4, 2025, has strengthened confidence in the private economic sector. On average, more than 18,000 new enterprises were established each month and over 12,000 resumed operations.
By the end of 2025, Vietnam had more than one million active enterprises. In the first two months of 2026, about 64,500 enterprises entered or re-entered the market, up 29.4% year-on-year, averaging 32,200 newly established or returning businesses per month.
Nearly 1,000 household businesses upgraded to enterprise status, accounting for about 25% of total conversions recorded in 2025, reflecting strong reform momentum in the business community.
According to the National Statistics Office (NSO) under the Ministry of Finance, nearly 35,500 enterprises were newly registered in the first two months, with total capital of nearly 313.7 trillion VND (11.93 billion USD) and over 167,500 registered workers. Compared with the same period in 2025, the number of new firms rose 70.7%, capital increased 36.1%, and employment grew 19.1%.
Including returning firms, about 29,000 enterprises resumed operations during the period. New business formation increased across sectors, with 440 enterprises established in agriculture, forestry and fisheries, up 145.8%; around 8,200 in industry and construction, up 71.5%; and more than 26,800 in services, up 69.6%.
Total additional capital injected into the economy during the period reached nearly 851.9 trillion VND, up 20.1% year-on-year, reflecting a continued positive investment trend.
Alongside the impact of Resolution 68, Vietnam in 2025 also revised several legal frameworks related to investment and business. The amended Law on Enterprises, adopted on June 17, 2025 and effective from July 1, 2026, introduces provisions facilitating both market entry and exit.
The Law on amendments and supplementations to a number of articles of the Law on Investment, effective from March 1, 2026, also aims to improve the investment climate by cutting 38 conditional business sectors and shifting some sectors from pre-licensing to post-inspection management.
However, the business landscape showed challenges. Former NSO Director Nguyen Bich Lam noted that of the 35,500 newly established enterprises, 26,800 – or 75.6%, were in the service sector, with 65.6% concentrated in wholesale and retail trade, vehicle repair, and accommodation and food services.
Meanwhile, retail sales of goods and consumer service revenue rose only 4.5%, the lowest growth rate in four years. Lam warned that the rapid increase in service enterprises amid weak household consumption raises concerns about the sustainability of the current wave of market entry.
At the same time, business withdrawals remained high. In the first two months, 58,500 enterprises temporarily suspended operations, more than 10,600 awaited dissolution, and nearly 7,900 completed dissolution procedures. On average, around 38,500 firms exited the market each month, with new entrants equal to only 83.7% of those leaving.
Amid global volatility pushing up fuel and input costs, the Ministry of Industry and Trade has advised enterprises to closely monitor international developments, review import–export contract terms, diversify markets and partners, and prepare contingency plans for supply chains.
Meanwhile, the Ministry of Finance said it will continue implementing measures in 2026 to encourage household businesses to convert into enterprises, including improving the legal framework, abolishing the lump-sum tax regime for household businesses from January 1, 2026, and rolling out support policies such as tax exemptions, credit access and free digital platforms to ease the transition./.
