“In reality, the dominance of large private firms is not uncommon. The 2023 report on Vietnam’s 500 largest private companies (VPE-500), published by the Institute for Development Strategy under the Ministry of Planning and Invesment in September 2023, showed that, on average, in 2019-2021, the labor size of VPE-500 company was 160 times larger, and its total assets were about 376 times greater than those average private enterprises in Vietnam.
From 2019 to 2021, although VPE-500 only accounted for 0.075% of the total number of businesses, they provided jobs for 12% of people of working age, held 28% of total assets, and contributed 18.4% of the private sector’s total tax payments.” – The Saigon Times
Source: https://english.thesaigontimes.vn/private-sectors-polarization/
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