A total of 76,179 enterprises resumed operations in Vietnam in 2024, according to the Agency for Business Registration under the Ministry of Planning and Investment.

To support micro and small enterprises to accumulate capital and develop business, the Ministry of Finance (MoF) has proposed lowering the corporate income tax rate to 15-17% for those with a total revenue of no more than VND50 billion (US$1.99 million), instead of the current flat rate of 20%.

Micro- and small-sized enterprises and those in business for less than three years were the most affected by the COVID-19 pandemic, according to a report on the pandemic’s impact on businesses in Vietnam.