Over 82% of firms in Vietnam intend to slim down or suspend operations: survey

May 26, 2023

Among 9,556 enterprises in Vietnam participating in a survey, 82.3 percent are planning to scale down or temporarily halt their business operations this year, given the ongoing economic turmoil. A mere 4.2 percent forecast a positive outlook for the economic growth this year. As many as 84 percent of these firms supposed the support from local authorities was weak. The firms are seeking to reduce social insurance fees, labor union dues and personal income tax, and speed up the tax-refunding process. The government should limit inspections of companies and offer more support policies to help local firms overcome the hardship, according to the report.

The source of this news is from Tuoi Tre News