Vietnam welcomes over 22,000 new firms in two months: GSO

Vietnam has more than 22,000 newly-established firms in the first two months of this year with total registered capital amounting to 218.71 trillion VND (over 8.87 billion USD), according to the General Statistics Office (GSO).
Vietnam welcomes over 22,000 new firms in two months
Employees at Tan Nhien Co. Ltd in Tay Ninh province. (Source: VNA)

The figures represented yearly increases of 12.4% in the number of firms and 32.8% in capital, it said.

Sectors recording an increase in the number of new businesses in the two months included the mining industry (29%); warehouse transportation (27%); other service activities (22%) and agro, forestry and fisheries (20%).

During the reviewed period, nearly 18,970 enterprises resumed their operations, rising 4.4% over the same period last year. The latest addition pushed the total number of newly-established businesses and firms resuming operations to 41,097, up 8.5% year on year.

In February alone, however, there were more than 8,590 new enterprises with total registered capital of 67.26 billion VND, down 3% and up 2.5% respectively.

Over 49,270 businesses temporarily suspended operations from January to February, a yearly hike of 27%. However, 44,265 or 89.8% of the total were small-sized with a scale under 10 billion VND.

Meanwhile, 62,977 businesses left the market, up 22.5% year-on-year, and 10,034 firms waited for dissolution procedures, up 6.5% on year. More than 3,670 enterprises completed dissolution procedures, up 14.5%.

Last year, nearly 160,000 new enterprises were set up in the country, up 7.2% year-on-year. This highest-ever figure was 1.2 times higher than the average of the 2017-22 period, surging 4.6% compared to the estimate for the year.

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(Source: VNA)