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.

Source: VOV