More than 76,500 new enterprises established

Since early this year, more than 76,500 enterprises have registered for establishment, up 28.3 percent over last year’s figure, according to the Ministry of Planning and Investment.

With such a growth speed, Vietnam will have about 540,000 businesses in 2010, surpassing the set target by 8 percent. The number of newly-established private businesses continues to rise rapidly with an estimated figure of more than 330,000 from 2006-2010, doubling since 2005.

Despite the strong rise in the number of businesses, many private businesses are facing difficulties due to their small-scale production, obsolete technology, shortage of capital, poor management and a lack of highly-skilled workers.

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