Enterprises develop fast in number, efficiency low: economic survey 2017

SGGP
Data from economic survey of HCMC 2017 showed that although the number of enterprises quickly develops, their scale is mainly small and very small and efficiency through profit norms is limited.

Private firms develop faster other economic sectors in HCMC (Photo: SGGP)

Private firms develop faster other economic sectors in HCMC (Photo: SGGP)

That was announced a conference, presided over by standing deputy chairman of HCMC People’s Committee Le Thanh Liem, to reckon up the economic survey results.
Mr. Liem is head of the steering board of the survey which is one among three under the national statistical survey program stipulated by the Prime Minister, conducted every five years.
Of 171,655 active businesses, 64,607 are profitable accounting for 37.81 percent, 96,936 loss making making up 56.49 percent and the remaining ones break even.
The ratio of loss making firms has been in up trend after five years, increasing 2.87 percent to non-state companies. The number of profitable ones dropped from 43.30 percent in 2011 to 37.41 percent in 2016.
Similarly, the ratios of profitable and under performance state own firms went down 0.71 percent to 81.79 percent and up from 16.6 percent in 2011 to 17.65 percent in 2016 respectively.
The city has 633,637 economic, administrative, public service units and religious and faith facilities, up 26.99 percent over 2011 with the average growth rate of 4.9 percent a year. Workers neared 4.1 million, increasing 19.04 percent.
Economic sector developed faster than administrative and public service fields, growing 26.99 percent in number and 10.04 percent in workers.
On December 31, 2016, the city had 172,979 businesses and cooperatives, raising nearly 62 percent over 2011. Of these, non-state firms post an outstanding development step compared to other types of businesses, accounting for 97.36 percent of the city’s companies.
Total capital of this economic sector was up 2.11 times equivalent to VND3.26 trillion. This sector also created lot of jobs for workers.
Stating at the conference, Mr. Liem appreciated efforts by the statistics industry and 3,600 staff who had worked to draw the survey’s results at the soonest time.
The survey results were a valuable source of data for city leaders to build and plan economic, social policies and others to encourage modern science and technology application in all economic fields as well as administrative and public service units, he said.
He assigned specific tasks to relevant agencies to improve the survey’s results.
Specifically, the Department of Planning and Investment, HCMC Taxation Department and Statistics Department have been asked to work together and review the number of registered and active companies in fact to draw the most exact number.
The number of registered firms now near 300,000 in fact while the survey shows it is only 172,979.

By THUY HAI – Translated by Hai Mien

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