There are 160.3 thousand enterprises that have not been dissolved or bankrupted.
The Department of Business Registration Management (Ministry of Planning and Investment) said that from 2011 to present, the whole country has had about 190,300 enterprises dissolved and stopped operating.
Currently, only 30,000 enterprises have completed dissolution procedures (accounting for 15.7%), while 160,300 enterprises have not completed dissolution or bankruptcy procedures. This causes the state to lose tax revenue, workers’ rights are violated, and statistics are distorted…
The main reason for this situation is that the system of regulations on enterprise bankruptcy has many shortcomings. It takes 3-5 years for each enterprise to complete bankruptcy procedures under the Bankruptcy Law.
According to TPO
