In an interview with Lao Dong Newspaper, Mr. Pham Ngoc Thach - Deputy Head of the Legal Department, Vietnam Chamber of Commerce and Industry (VCCI) - assessed that behind this positive signal are still great pressures on the market, capital sources need to be removed soon.
In general, in the first 6 months of 2026, the whole country has nearly 111.7 thousand newly registered enterprises with a total registered capital of more than 1.35 million billion VND. How do you assess this figure?
- First of all, the figure of nearly 111.7 thousand businesses established in the first 6 months of the year, along with 1.35 million billion VND of newly registered capital, increasing by 22.5% and 64.8% respectively compared to the same period last year, are clearly positive signals. The noteworthy point is that the flow of businesses entering the market is still greater than the flow of businesses withdrawing. This is a signal reflecting the confidence of the private sector in the prospects of the economy.
Besides the positive signs, the number of businesses withdrawing from the market is still quite large. On average, 25.2 thousand businesses withdraw from the market per month in the first 6 months of the year. How do you assess this figure and what are the reasons?
- According to a survey by VCCI, the biggest difficulty currently is still the market. About half of businesses reflect that they are lacking orders, lacking output or facing difficulties in expanding consumption markets. In the context of uneven domestic demand recovery, while the international market is affected by geopolitical conflicts, trade policies and supply chain fluctuations, a significant number of businesses are forced to narrow down their scale or temporarily suspend operations.
Another difficulty is access to capital. Many businesses, especially small and medium-sized enterprises, still face obstacles when borrowing capital due to requirements for collateral, while the ability to accumulate after the difficult period in recent years has not really recovered.
However, I also want to emphasize that not all businesses leaving the market are failed businesses. There are businesses that complete the investment cycle, restructure operations or transform business models. It is necessary to recognize that this is a natural screening process of the economy.
From now until the end of the year, what solutions are needed to retain businesses and improve the business environment, especially for small and medium-sized enterprises, sir?
- The second half of the year needs to focus on three major pillars. The first is to unlock the market. This is the issue that businesses are most concerned about today. In addition to stimulating domestic purchasing power, management agencies need to improve the quality of forecasting, market information provision and support businesses to better penetrate existing markets, while expanding access to new markets.
The second is to improve access to capital. We expect the banking system to gradually shift from a lending mindset mainly based on collateral to assessing the effectiveness of production and business plans and business cash flow.
The third is to continue institutional reform. This is the most meaningful and sustainable solution. It is necessary to continue to review all administrative procedures, business conditions, overlapping or no longer appropriate regulations to boldly cut down, thereby reducing compliance costs for businesses. The reform is not only aimed at creating favorable conditions for domestic businesses but also must aim to build a business environment close to international standards, thereby improving national competitiveness.
Thank you very much, sir!
