Businesses remain at the heart of economic growth

A clearer picture of Viet Nam's business sector in the new stage of development has emerged from the Preliminary Results of the 2026 Economic Census, as released by the Statistics Office. One of the report's key highlights is that the business sector continues to serve as the main driver of the economy, with enterprise numbers continuing to grow and the sector maintaining a stable development structure.

Economic scale continues to expand

As of the statistical reference date of December 31, 2025, information was collected on more than 1.22 million enterprises nationwide. Of these, more than 859,000 enterprises were actively engaged in production and business activities, up 2.4% compared with 2024 and 25.5% compared with 2020. This figure includes more than 827,000 non-state enterprises, nearly 30,000 foreign direct investment (FDI) enterprises, and 1,770 state-owned enterprises.

Notably, non-state enterprises accounted for the largest share, increasing by 2.1% compared with 2024 and 25.4% compared with 2020. They have become the dominant force in terms of numbers, demonstrating strong resilience and adaptability amid fluctuations in both domestic and international business conditions.

The FDI sector recorded the fastest growth in the number of enterprises, rising by 11.1% compared with 2024 and 33.9% compared with 2020. This reflects Viet Nam's continued attractiveness as an investment destination, as well as the ongoing relocation of global supply chains and the expansion of production and business activities by foreign investors in the country.

Meanwhile, the number of state-owned enterprises increased only marginally by 0.3% compared with 2024 but declined by 9.8% compared with 2020. This trend is consistent with the ongoing restructuring of the state-owned enterprise sector to improve efficiency and concentrate resources on the economy's key and strategic sectors.

Nguyen Thanh Duong, Deputy Director General of the Statistics Office, said the figures indicate that the scale and structure of Viet Nam's business sector continue to evolve in line with the country's policy of economic restructuring and developing the private sector into a key driver of growth. The shift is evident not only across different ownership types but also across economic sectors.

Specifically, enterprises operating in the services sector continued to account for the largest share, representing 71.3% of all enterprises nationwide, up 5.8% compared with 2024 and 31.3% compared with 2020. Enterprises in the industry and construction sector accounted for 28%, which is a lower share than in 2024 but still higher than in 2020.

Enterprises in agriculture, forestry, and fisheries accounted for only 0.7%. Their share increased compared with 2024 but remained lower than in 2020. Notably, businesses are increasingly expanding into areas with greater development potential. The Northern midlands and mountainous region has emerged as a new growth pole, with the number of enterprises rising by 8.7% compared with 2024 and 44.4% compared with 2020.

Unlike previous economic censuses, the 2026 Economic Census included cooperatives groups for the first time, helping to complete the picture of the collective economy and provide more comprehensive coverage of all sectors of the economy. This creates an important database for statistical work and State management.

Preliminary census results show that Viet Nam's economic scale is continuing to expand. Although the business sector accounted for only 13.7% of all surveyed entities, it remains at the centre of the country's growth process.

Further improving business environment

According to Bui Anh Tuan, Head of the Agency for Private Enterprise and Collective Economy Development, Politburo Resolution No. 68-NQ/TW (dated May 4, 2025) on private sector development has generated fresh momentum and confidence for the business environment and entrepreneurial activity. More importantly, the resolution does not simply introduce additional support policies for businesses, but drives a fundamental institutional reform, shifting the State's role from administration to development facilitation.

Reflecting this renewed approach, more than 18,000 new enterprises have entered the market each month on average since May 2025, 1.6 times the monthly average recorded during the 2021–2025 period. In the first six months of this year, around 170,000 enterprises were newly established or resumed operations. However, business closures remained relatively high, with approximately 150,000 enterprises suspending operations or exiting the market.

To achieve the targets set out in Resolution No. 68-NQ/TW — having two million active enterprises, 20 operating enterprises per 1,000 people, and at least 20 large enterprises participating in global value chains by 2030 — the Government and the Prime Minister have made further reforms of the investment and business environment a top priority.

"For the 2026–2030 period, the focus will be on effectively and substantively implementing the policies that have already been issued. The eight groups of tasks and solutions under Resolution No. 68-NQ/TW must be translated into concrete reforms that businesses can genuinely experience and benefit from," Bui Anh Tuan said.

According to the Statistics Office, growth in all three indicators — the number of enterprises, employment, and capital among operating enterprises — reflects the continued expansion of the production and business sector. It also demonstrates improvements in the investment and business environment and the effectiveness of business support policies introduced in recent years.

Nguyen Minh Thao, Head of the Business Development and Business Environment Division under the Institute for Strategy and Policy on Economy and Finance, said that what businesses want most today is a stable, transparent, and open business environment, with fewer administrative procedures and lower compliance costs.

She therefore stressed that to ensure the effective implementation of Resolution No. 68-NQ/TW, ministries, sectors, and localities must urgently carry out plans to streamline administrative procedures and business requirements while improving the quality of digital transformation, working closely with businesses to narrow the gap between policy formulation and implementation.

In addition, greater efforts are needed to improve the legal framework in a way that encourages businesses to invest in research, science and technology development, and innovation. This, she said, will provide the foundation for enterprises to strengthen their competitiveness and become a key driving force behind double-digit economic growth.

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