Private and foreign-invested enterprises remain Vietnam's largest job creators

Private and foreign-invested enterprises remain Vietnam's largest job creators

Vietnam's private and foreign-invested enterprises continue to account for the vast majority of jobs in the country's corporate sector, according to preliminary results of the 2026 Economic Census.

Vietnam has nearly 6.3 million active employers, hiring more than 30.3 million workers, according to the preliminary results of the 2026 Economic Census released by the Central Steering Committee on July 13 in Hanoi.

Nguyen Thanh Duong, deputy director general of the National Statistics Office and standing deputy head of the 2026 Economic Census Task Force, said the country currently had about 859,000 enterprises, accounting for 13.7 per cent of all economic establishments, employing 17.6 million people, or 57.9 per cent of the national workforce covered by the census.

The cooperative sector remains relatively small, with 17,145 cooperatives employing about 156,800 workers. Meanwhile, there are 5.25 million household business establishments and about 7,900 cooperative groups. The census provides an important evidence base for economic management, policymaking and macroeconomic planning.

The preliminary results indicate a clear structural shift from household businesses towards the enterprise sector. Enterprises continue to expand in both number and employment, while the household business sector has experienced slower growth. For the first time, employment in household businesses has declined, reflecting a gradual reallocation of labour across different sectors of the economy.

The services sector remains the largest contributor in terms of both establishments and employment, accounting for 84 per cent of all surveyed entities and 59.4 per cent of total employment. Industry and construction continue to provide a significant share of jobs, while agriculture, forestry and fisheries represent only a small proportion.

Private enterprises continue to dominate the business landscape, with 827,492 operating companies, far outnumbering the 29,786 foreign-invested enterprises (FIEs) and 1,770 state-owned enterprises (SOEs).

Private businesses and FIEs also remain the country's largest employers, together providing jobs for more than 16.6 million workers, equivalent to around 94 per cent of total employment in the enterprise sector.

Duong said that the enterprise sector maintained strong revenue growth in 2025. Total net revenue reached $1.75 trillion, an increase of 13.1 per cent compared with 2024 and 65.6 per cent higher than in 2020.

Private enterprises generated $1 trillion in net revenue, up 12 per cent on-year and 63.9 per cent higher than in 2020.

FIEs recorded $568 billion, rising 17.8 per cent from 2024 and 78.1 per cent from 2020, making them the fastest-growing segment in terms of revenue. SOEs generated $192 billion, up 6.3 per cent from 2024 and 43.9 per cent higher than in 2020.

"Private enterprises generated the largest amount of revenue, while FIEs recorded the strongest revenue growth compared with both 2024 and 2020," Duong said.

The 2026 Economic Census is Vietnam's seventh nationwide economic census and is regarded as particularly significant as the country accelerates digital transformation. The survey will help local authorities establish comprehensive databases covering all production and business establishments under the country's new administrative boundaries.

For the first time, the census also includes cooperative groups and household businesses operating on digital platforms, providing a more comprehensive picture of Vietnam's expanding digital economy.

VIR