Additional 38,000 private enterprises established in 2005

More than 38,000 private enterprises were established in 2005, raising the total number of private companies operating in Viet Nam to around 200,000.

The rapid development of private enterprises has made a great contribution to the countrys economic growth, especially in industry, according to the Ministry of Planning and Investment.

This year, Viet Nams industrial growth rate is estimated to soar 17.2 percent over 2004, of which, the private sector took the lead with a rise of 23.5 percent.

The private firms also had record investment capital of 105 trillion VND this year, an increase of 28 percent against 2004.

(Source: VNA)