The business recovered well, but continued to face many difficulties

According to the Ministry of Planning and Investment, the business sector is having a positive recovery in the first seven months of 2022, but in reality Vietnamese enterprises are still weak and lacking in both quantity and quality.

Overview of the Prime Minister's nationwide online conference with businesses under the theme "Proactively adapting to fast recovery and sustainable development." (Photo: Duong Giang/VNA)

On the morning of August 11, reporting at the Prime Minister's Conference with businesses, with the theme "Proactive adaptation, quick recovery and sustainable development," said Minister of Planning and Investment Nguyen Chi Dung. In the context of many difficulties, under the correct leadership of the Party, with the support of the National Assembly, the Government and the Prime Minister have consistently directed and implemented policies and solutions to maintain stability. macroeconomic, control inflation, ensure large balances, maintain a level of exchange rate, reasonable interest rates.

The impressive growth figures in 7 months of 2022 have reflected the correctness and timeliness of the policies in the past time.

International organizations all have positive comments on economic development in Vietnam; Vietnam's long-term credit rating is at "stable" and "positive." Many experts believe that the resilience of the economy is quite good at the moment.

According to the results of a quick business survey in the second quarter of 2022, 70%-80% of businesses appreciate the usefulness in supporting businesses to overcome difficulties in the context of the COVID-19 epidemic according to Resolution No. 105/NQ-CP of the Government, the decision to open the economy according to Resolution No. 128/NQ-CP of the Government, policies on exemption, reduction and extension of time limit for payment of some taxes, fees and rents land, electricity bill reduction, policies to support economic recovery.

By the end of July 2022, the whole country has about 871,000 operating enterprises that incur taxes, an increase of nearly 13% compared to 2019, of which, enterprises in the fields of agriculture, forestry and fishery accounted for 1. 4%; in industry and construction accounted for 31.2% and in services accounted for 67.4%.

In the 7 months of 2022 alone, the number of businesses entering and returning to the market and additional registered capital into the economy increased sharply. Over 130,000 enterprises entered and re-entered the market, an increase of 26.8% over the same period in 2021, 1.4 times the number of enterprises withdrawing from the market.

In terms of scale, the total registered capital added to the economy in 7 months of 2022 reached over VND 3.3 million billion, an increase of over 37% over the same period in 2021.

Currently, the business market, especially the domestic market in some industries, has recovered over 75%-85% compared to the time before the COVID-19 epidemic. Revenue in the first two quarters of 2022 increased sharply compared to the same period last year, some industries were even higher than the same period before the epidemic.

The domestic air transport and tourism markets recovered by nearly 100% and 85% respectively, especially with the boom in the second quarter of this year. Export turnover continued to increase sharply, continuing to be a bright spot, making a positive contribution to economic growth.

In the first 7 months of 2022, export turnover of goods was estimated at 216.35 billion USD, up 16.1% over the same period last year with 30 items with export turnover of over 1 billion USD.

A good point in the current context is that the confidence of investors and businesses continues to be consolidated, with a positive trend. Nearly 92% of enterprises think that they will keep their business scale or expand production and business in the third quarter of 2022; 85% of processing and manufacturing enterprises expect that their production and business situation in the third quarter of 2022 will be stable and tend to be better compared to the second quarter of 2022.