What are the difficulties in production and business?

Businesses have difficulty finding customers.

On July 4, the Department of Labor, Invalids and Social Affairs of Ho Chi Minh City said that according to the survey results of 5,861 enterprises operating in Ho Chi Minh City, 3,642 enterprises responded that they were operating normally (accounting for 62.14%), 632 enterprises responded that they were narrowing down their production and business activities (accounting for 10.78%), and 1,493 enterprises responded that their operations were facing many difficulties (accounting for 25.47%).

Most businesses are facing difficulties and narrowing their production and business activities due to lack of orders (accounting for 88.75%), lack of business capital (accounting for 8.94%), change in production and business fields (accounting for 1.22%) and lack of labor (accounting for 1.09%)...

Business difficulties lead to tens of thousands of workers losing their jobs

According to the survey, during their operations, businesses often encounter difficulties in finding customers and export markets; lack of supply and raw materials; lack of government support policies for businesses; and lack of information guiding the implementation of relevant regulations.

In addition, businesses also complain about difficulty in accessing loan sources; difficulty in finding suitable labor sources; and the quality and skills of workers do not meet requirements.

Ho Chi Minh City reduces about 30,000 workers

Regarding the situation of labor use in enterprises, also according to the survey results of 5,861 enterprises with 652,580 employees, the Department of Labor, Invalids and Social Affairs informed that currently Ho Chi Minh City has 377,198 employees working in foreign-invested enterprises (FDI, accounting for 57.8%); 249,355 employees working in non-state enterprises (accounting for 38.21%) and 26,027 employees working in state-owned enterprises (accounting for 3.99%).

Workers mainly work in the processing, manufacturing, wholesale and retail industries; automobile, motorcycle and motorbike repair; transportation and warehousing; information and communication; accommodation and food services...

Compared to the end of 2022, 2,906 enterprises kept the same number of employees (accounting for 49.58% of the total number of surveyed enterprises); 1,464 enterprises had a decrease or no increase in the number of employees (accounting for 24.98%); 766 enterprises had both an increase and decrease in the number of employees, accounting for 13.07% and 725 enterprises had an increase in the number of employees (accounting for 12.37%).

Of which, the number of employees increased by 13,245 people and the number of employees decreased by about 30,000 people.

Businesses still affected after Covid-19

Ms. Nguyen Hoang Hieu, Director of the Center for Human Resources Forecasting and Labor Market Information of Ho Chi Minh City, said that the unit's assessment in the first 6 months of this year, the labor market of Ho Chi Minh City has many fluctuations under the impact of the domestic and world economy.

The recovery rate of businesses is still slow. After a period of responding to the Covid-19 pandemic, many businesses have difficulty in finding financial resources to reorganize production activities to meet changes in standards, tastes and new customer requirements for goods.

Enterprises in the processing and manufacturing industry; production and assembly of electronic components; wood processing... will face many upcoming difficulties.

However, Ho Chi Minh City has taken many proactive and positive measures to support businesses in recovering and developing production and business such as attracting investment, reducing interest rates, supporting tax reduction, and at the same time, grasping developments in the labor market to promptly support workers in finding new jobs, diversifying forms to increase the efficiency of connecting labor supply and demand.

Although the labor market picture is gradually brightening along with the economic recovery; Ho Chi Minh City's economy will continue to face many unpredictable challenges as the real estate market is still facing many difficulties, import and export activities have increased but are still slow; the order situation has not yet fully recovered to pre-pandemic levels while finding and developing foreign markets is facing difficulties.

This leads to continued fluctuations in the labor and employment situation, with layoffs still occurring in businesses, especially in the processing and manufacturing industries, especially in the textile and footwear industries; electronic component manufacturing and assembly; and wood processing.

To promote a strong and sustainable recovery of the labor market, the Ho Chi Minh City Center for Human Resources Demand Forecasting and Labor Market Information believes that Ho Chi Minh City needs to continue implementing many solutions and policies to develop the economy and stabilize employment.

Enterprise establishment capital decreased by more than 18% compared to the same period in 2022

According to the report of the Ho Chi Minh City Statistics Office, from the beginning of the year to June 20, Ho Chi Minh City has licensed 23,035 enterprises with registered capital of more than VND 212,626 billion, an increase of 7.6% in licenses and a decrease of 18.3% in capital compared to the same period.

Of which, 9 main service industries (including trade; transportation and warehousing; tourism; post, telecommunications and information and communication; finance, credit, banking, insurance; real estate business; information and consulting services - science and technology; education - training; healthcare) had 17,085 enterprises established, up 9% over the same period; registered capital reached 137,557 billion VND, down 29.6%.

If classified by enterprise type, there are 20,621 LLCs, up 10.3% over the same period; total registered capital reached 162,513 billion VND, up 20.2% over the same period.

Joint stock companies have 2,063 units, down 18.3%; registered capital of 49,876 billion VND, down 60.1%. Private enterprises have 347 units, up 77.9%; registered capital of 182 billion VND, up 107.1%.

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