Vietnam has over 1 million active enterprises, with private firms accounting for 97%, employing 57.8% of the workforce, and generating over half of sector revenue. VPE500 firms, though only 0.05% of enterprises, contribute 11.8% of revenue, 17.4% of capital, and 5.9% of labor. Within the private sector, they dominate 10% of employment, 22% of revenue, and 34% of capital, reflecting strong resilience and investment growth.
Portfolio changes show stabilization after pandemic disruptions: exit rates fell from 27% to 17%, while new entrants surged in technology, renewable energy, and logistics. Sectoral shifts favor services and asset-based industries - finance, trade, and real estate - while manufacturing declined. Geographically, Hanoi and Ho Chi Minh City host over 60% of VPE500 firms.
VPE500 enterprises lead in R&D and innovation, surpassing even FDI firms, creating significant spillover effects. A one-unit output increase by VPE500 raises other sectors’ output by up to 2.7 units. Their presence boosts productivity (0.12%) and wages (0.124%) within industries, contrasting with negative spillovers from FDI.
International lessons highlight three policy pillars for global expansion: tax incentives (Singapore, China), credit and guarantees (Japan, South Korea), and institutional frameworks with national strategies. Successful models combine these tools to foster innovation and competitiveness. For Vietnam, adopting integrated policies - tax benefits, financial support, and clear institutional backing - will enable private enterprises to lead global economic integration.
The full report is written in Vietnamese, with an executive summary available in English.
