Nearly 150,000 new businesses registered in the first nine months of 2025, reflecting investor optimism and government reforms. Yet many startups still struggle to survive amid rising costs and limited capital access.
HANOI — October 27, 2025 (Vietnam Insider) — Vietnam’s entrepreneurial spirit continues to surge, with a remarkable 145,000 new enterprises established in the first nine months of 2025, up 18.9% year-on-year, even as the global economy grapples with uncertainty.
The total registered capital of these new firms exceeded VND 1.42 quadrillion (US$56 billion), while another 86,400 businesses resumed operations, marking a 41.3% rebound from the previous year.
“This wave of new business formation shows that confidence in Vietnam’s domestic market remains robust,” said Sophie Dao, Senior Partner at GBS – Global Business Services LLC, a leading investment consulting firm in Ho Chi Minh City. “What’s more important is that many of these entrepreneurs are building in high-value sectors — manufacturing, digital services, and green industries — signaling a maturing economy that’s looking beyond short-term gains.”
A Story of Growth — and Growing Pains
While the figures underscore Vietnam’s continued dynamism, they also reveal underlying vulnerabilities.
During the same nine-month period, 99,500 firms temporarily suspended operations, and 22,300 were dissolved, highlighting the sharp contrasts within the country’s competitive landscape.
Many small and newly established enterprises continue to struggle with limited access to credit, rising input costs, and lingering administrative hurdles — despite a series of government measures such as VAT reductions, deferred tax and land rent payments, and preferential credit packages.
“The government has made genuine efforts to ease the burden for SMEs,” Sophie Dao added. “But administrative complexity and informal costs remain persistent pain points. Simplifying regulatory processes and improving transparency would go a long way in helping startups move from survival to scale.”
Services and Manufacturing Lead the Charge
Among the new businesses, the service sector, manufacturing and processing, and wholesale and retail trade continue to dominate, aligning with Vietnam’s structural shift toward higher-value production and domestic consumption.
The average registered capital per enterprise reached VND 9.8 billion (US$386,000) — a modest 3.1% increase compared with 2024, showing cautious optimism amid cost pressures and tightening credit conditions.
The Road Ahead
As Vietnam strives toward its 2030 development vision, the private sector remains a vital engine for innovation and job creation. Experts note that sustaining the startup momentum will require not just financial incentives, but also stronger institutional support, digital infrastructure, and global partnerships.
“Vietnam’s business landscape is evolving rapidly,” Dao concluded. “To unlock its full potential, the next chapter must focus on resilience — helping companies not only start but thrive in a changing global economy.”
Vietnam has emerged as one of Southeast Asia’s most dynamic startup ecosystems, ranking among the top five in the region for new business creation. With ongoing reforms and a young, tech-savvy workforce, the country remains a magnet for both local entrepreneurs and international investors seeking growth in emerging markets.
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Source: Vietnam Insider