Nearly 14,700 businesses newly established and resumed operations each month

Average registered capital of a newly established business in the month hit VND 10.6 billion. Photo: H. Diu

According to the General Statistics Office's socio-economic report in February, there were 9,163 newly established businesses with registered capital of VND 96.8 trillion, up 10.7 percent of businesses and down 21.4 percent in registered capital from the previous month.

The average registered capital of a newly established business in the month reached VND 10.6 billion, down 29 percent from the previous month and down 35.2 percent compared to 2019.

In the first two month of 2020, the country had 17,400 thousand newly established with total registered capital of 220 trillion, up by 9.1 percent in number of businesses and down 11.1 percent in registered capital compared to the prior year.

In addition, there were 11,900 resumed businesses, increasing by 17.1 percent compared to 2019, bringing the total number of newly established businesses and resumed businesses in February to 29,400 thousand businesses.

The result has shown that there were 14,700 newly established businesses and resumed businesses on average per month.

In the first two months, the group of newly established businesses increased including agriculture, forestry and fisheries; industry and construction sector and service area.

However, in the two months the number of businesses that temporarily suspended their operation for a definite period was 16,200 businesses, increasing by 19.5 percent compared to 2019; the number of businesses that temporarily suspended their operation for dissolution procedures was 9,004 businesses, decreasing by 31.4 percent; the number of businesses that completed dissolution procedures was 2,800 thousand businesses, down by 11.1 percent.