The economy of Vietnam grew an estimated 6.68% this year, the fastest pace in five years, according to the General Statistics Office (GSO).
The Southeast Asian country’s gross domestic product (GDP) expanded by 6.25% in 2011, by 5.25% in 2012, by 5.42% in 2013, and by 5.98% last year, the office said.
Industrial production in 2015 is seen to have increased 9.8% compared to 7.6% in 2014 and 5.9% in 2013, and inflation rate posted the lowest level since 2001, according to a report by VGP News.
Vietnam’s yearly per capita income also increased, going up by US$57 to $2,109 in 2015.
Start-ups balloon 30%
In related news, about 94,754 businesses were set up in the country in 2015, up nearly 30% compared to 2014, a positive result of the issuance of the revised Law on Enterprises, according to the Ministry of Planning and Investment.
In December alone, nearly 8,000 enterprises were started, an increase of 20% against the previous month.
Meanwhile, the GSO reported that 71,000 businesses dissolved or went bankrupt in the first 11 months of 2015.
The revised Law on Enterprises, which took effect on July 1, 2015, has reduced the time required for granting business registration certificates to three working days from the previous five working days.
The business registration certificate now only displays four categories of information: the business name code, main address of business, detailed information on legal representatives of the company, and charter capital.
The law also allows companies to merge and form a new entity with an aim to boost the merger and acquisition market in Vietnam.
Photo: Bùi Thụy Đào Nguyên
