Record rise seen in number of new, resuming firms in 8 months
Illustrative image (Source: VNA)
Record rise was seen in the number of newly-established firms and those returning to the market in the first eight months of this year thanks to a surge in August’s figures, according to the Business Registration Agency under the Ministry of Planning and Investment.
The agency reported that in the month, 11,918 new enterprises were set up with combined registered capital topping 130.19 trillion VND (5.56 billion USD), a year-on-year rise of 106.9% and 91.6%, respectively.
It explained that as August 2021 saw complicated developments of COVID-19 with social distancing measures imposed in many localities, production and business activities were interrupted.
A year later, the number of businesses returning to the market increased 67.1% over the same period last year to 6,458, the highest for a month to date.
The results pushed the number of newly-established firms and enterprises returning to the market in the first eight months of this year to 149,451, up 31.1% year on year. Of the total, the number of new firms was 101,325, a rise of 24.2% year on year.
Processing business registration at the Business Registration Office of the Hanoi Department of Planning and Investment. (Photo: VNA)
Total capital added to the economy in the first eight months of this year also rose 36.1% year on year to 3.63 quadrillion VND, including 1.13 quadrillion VND poured into new firms and 2.5 quadrillion into operating businesses.
According to the agency, 15 out of the 17 sectors saw an increase in the number of new firms, led by accommodation and catering service at 51.7%.
Meanwhile, in the January-August period, 104,317 businesses left the market, including 59,609 firms halting their operations in a short term.
Despite the positive signs in the business number, the average capital of an enterprise fell 26.1% in August compared to that in January, 20.8% over the same period in 2021 and 34.2% over the same time in 2020. Experts held that this showed the caution of businesses and their difficulties in accessing capital./.
Related News
RoK firms show interest in Vietnam’s medical equipment market
13:56 | 10/02/2023 Import-Export
Vietnam remains top 5 global investment sites for EU firms
15:48 | 18/01/2023 Import-Export
Electronic firms continue to shift investment to Vietnam
20:29 | 14/01/2023 Import-Export
Vietnam highly potential market for Korean firms
17:14 | 10/01/2023 Import-Export
Latest News
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
More News
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export
HCM City’s industrial production index down 0.9% in Q1
14:47 | 04/04/2023 Import-Export
Fisheries exports estimated at 1.85 billion USD in Q1
14:45 | 04/04/2023 Import-Export
Quang Ninh aims to attract quality FDI inflows
14:43 | 04/04/2023 Import-Export
Exports face many difficulties
13:29 | 04/04/2023 Import-Export
Manufacturing enterprises increase their competitiveness thanks to digital transformation
13:28 | 04/04/2023 Import-Export
32nd Việt Nam Expo promises to boost business linkages
14:19 | 03/04/2023 Import-Export
Prevention of price risks before news that Indonesia increases rice imports in reserve
09:52 | 03/04/2023 Import-Export
Japanese investors highly appreciate Vietnamese property market
17:41 | 02/04/2023 Import-Export
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export