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Home / Economy / Trade - Service
Newly established enterprises in first 2 months up 29.4%
Ngoc Thuy 11:31, 2018/03/01
In the first two months of 2018, Vietnam has a total of 18,703 newly established enterprises with total registered capital of VND197.3 trillion (US$8.6 billion), according to the latest report of the General Statistics Office (GSO).
That said, these numbers saw an increase of 29.4% in terms of quantity and 29.3% of the registered capital compared to the last year's period.
 
Vietnam is on track to reach 1 million enterprises by 2020.
Vietnam is on track to reach 1 million enterprises by 2020.
Meanwhile the average capital of newly established enterprises is estimated at VND10.5 billion (US$460,000), decreasing 0.1% year on year. 

Taking into account additional fund of VND337.3 trillion (US$14.8 billion) from 5,900 enterprises, total registered capital committed to the economy in the first 2 months of 2018 reached VND534.6 trillion (US$23.4 billion). 

On the other hand, around 6,878 enterprises resume operation, a decrease of 13.8% over the last year's period, resulting in the total number of newly established enterprises and enterprises back into operation in the first 2 months of 25,600. 

As such, total labor force from these newly established enterprises are reported at 156,400, decreasing 6.1% year on year. 

With regard to business line, the first 2 months witnessed an addition of 6,400 newly established enterprises in the whole sale and retail sector, accounting for 34.5% of the total number and 31.4% higher than the number of last year's period; 2,400 enterprises in field of construction (12.9% of the total number), up 25%; 2,300 enterprises in the processing and manufacturing industry (12.2% of the total number), up 16%. 

For the first 2 months, all 63 provinces and cities saw an increase in the number of newly established enterprises compared to last year's period. 

The number of temporarily suspended enterprises in the first 2 months reached 17,132, up 4.5% year on year, including 11,191 enterprises 5,941 enterprises waiting for dissolution, decreasing 23.1%. 

With this being said, the number of enterprises completed the dissolution process in the first 2 months is 2,529, up 0.2% year on year. Among this number, 2,320 enterprises have chartered capital of under VND10 billion (US$439,000), accounting for 91.7% of the total number. 

In the February, Vietnam has around 7,864 newly established enterprises with total registered capital of VND99.1 trillion (US$4.3 billion), decreasing 27.4% in term of the quantity and an increase of 0.8% in the total registered capital. 

Also in February, Vietnam has 2,319 enterprises resume operation, a decrease of 49.4% compared to last month, and 4,232 suspended enterprises. 

In 2017, 126,859 enterprises were established, breaking the record of 110,100 newly established enterprises in 2016. That said, 2018 is expected to be another breakthrough year for Vietnam toward the target of having 1 million enterprises by 2020, stated in the GSO's report.
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