Number of newly-established enterprises rises 19.7% after eight months
The Ministry of Planning and Investment said, during the eight months of this year, there were 73,404 new enterprises set up with a registered capital of 567.9 trillion VND (25.46 billion USD), up 19.7 percent and 50.9 percent from a year earlier, respectively.
The surge in the newly registered capital and the number of companies resuming operations in the reviewed time pointed out that businesses have put more confidence in Vietnam’s economic prospect, many economists said.
According to the Ministry of Planning and Investment, 73,404 new enterprises with a registered capital of 567.9 trillion VND (25.46 billion USD) were established from January to August, up 19.7 percent and 50.9 percent from a year earlier, respectively. The capital per company averaged 7.7 billion VND (345,270 USD).
As many as 18,711 firms, which suspended their activities due to difficulties, have resumed operations during the period, rising by 65.1 percent year on year.
The growth of new firms was seen in almost all sectors over the eight months, such as real estate (up 101.3 percent in company number and 268.4 percent in registered capital), mining (8.8 percent and 247 percent), and information and communications (15.2 percent and 183 percent).
Meanwhile, Vietnamese companies registered to add 1.024 quadrillion VND (45.9 billon USD) to their existing capital in the period.
However, the number of new enterprises in August (9,282) declined 3.5 percent from July as August coincided with the seventh lunar month, traditionally called the Ghost Month which hampered people’s intention to establish new companies.
While 7,479 companies were dissolved, 40,419 others suspended their operations during the eight months, up 18.9 percent and 3.5 percent from the same period last year, according to the General Statistics Office.
According to the Ministry of Planning and Investment, 73,404 new enterprises with a registered capital of 567.9 trillion VND (25.46 billion USD) were established from January to August, up 19.7 percent and 50.9 percent from a year earlier, respectively. The capital per company averaged 7.7 billion VND (345,270 USD).
Photo for illustration.
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The growth of new firms was seen in almost all sectors over the eight months, such as real estate (up 101.3 percent in company number and 268.4 percent in registered capital), mining (8.8 percent and 247 percent), and information and communications (15.2 percent and 183 percent).
Meanwhile, Vietnamese companies registered to add 1.024 quadrillion VND (45.9 billon USD) to their existing capital in the period.
However, the number of new enterprises in August (9,282) declined 3.5 percent from July as August coincided with the seventh lunar month, traditionally called the Ghost Month which hampered people’s intention to establish new companies.
While 7,479 companies were dissolved, 40,419 others suspended their operations during the eight months, up 18.9 percent and 3.5 percent from the same period last year, according to the General Statistics Office.
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