In its recently-released “Official Results of the Economic Census 2021” publication, the General Statistics Office gives insights into the capital of enterprises for production in the 2016-2020 period.
Domestic and foreign investment capital going to enterprises has maintained rapid growth momentum over the years. As of December 31, 2020, the total capital used for production and business in all enterprises reached VND48.7 quadrillion ($2 trillion), an increase of 12.3 per cent compared to the end of 2019 and up 73.5 per cent compared to the end of 2016.
According to an assessment by the General Statistics Office, the growth of capital has always been higher than the growth of the workforce, which reveals that the average headcount at businesses is falling but average capital is rising. This reflects the fact that businesses are expanding primarily based on capital growth and proves that Vietnam is a market of potential in capital attraction.
By type of enterprise, non-State enterprises accounted for 59.4 per cent of total capital as of December 31, 2020, foreign enterprises 19.2 per cent, and State-owned enterprises 21.4 per cent while representing only 0.3 per cent of all enterprises.
By sector, the service sector is the highlight of the economy, mobilizing twice as much as capital as the industry - construction sector and 70-times more than agriculture, forestry and fisheries.
The average capital at enterprises in the 2016-2020 period has gradually expanded, to VND63.4 billion ($2.7 million), equivalent to a medium-sized enterprise and increasing 27.3 per cent compared to the average in the 2011-2015 period.
“This is a result of the process of equitizing State-owned enterprises and attracting more investment capital from private organizations and units,” according to the General Statistics Office.