Record rise seen in number of new, resuming firms in 8 months

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.

Record rise seen in number of new, resuming firms in 8 months hinh anh 1

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.

Record rise seen in number of new, resuming firms in 8 months hinh anh 2

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./.

Source: VNA
en.vietnamplus.vn

Related News

RoK firms show interest in Vietnam’s medical equipment market

RoK firms show interest in Vietnam’s medical equipment market

COEX, a leading exhibition organiser and venue of the Republic of Korea (RoK), and the Vietnam Advertisement and Fair Exhibition JSC (VIETFAIR) will co-organise the Mekong Medical & Healthcare Expo 2023 in the southern province of Binh Duong in June.
Vietnam remains top 5 global investment sites for EU firms

Vietnam remains top 5 global investment sites for EU firms

The confidence of European enterprises in Vietnam’s economy declined for a second quarter but the S-shaped country still remains in the top five global investment destinations for their companies, the latest Business Climate Index (BCI) published by the European Chamber of Commerce in Vietnam (EuroCham) showed last week.
Electronic firms continue to shift investment to Vietnam

Electronic firms continue to shift investment to Vietnam

In continuation of moving their production hubs, this year many of the giants in the world of technology and electronics have announced business expansion plans in Vietnam.
Vietnam highly potential market for Korean firms

Vietnam highly potential market for Korean firms

Vietnam is now considered a highly potential market for businesses from the Republic of Korea (RoK) which have dominated some sectors in the Southeast Asian nation.

Latest News

Saigontex 2023 attracts over 1,300 domestic, foreign businesses

Saigontex 2023 attracts over 1,300 domestic, foreign businesses

More than 1,300 businesses from 21 countries and territories are participating in the Vietnam Textile & Garment Industry Expo (Saigontex) 2023, the leading exhibition of the industry in Southeast Asia, which opened in Ho Chi Minh City on April 5.
Mong Cai international border gate sees strong recovery

Mong Cai international border gate sees strong recovery

The Mong Cai international border gate in the northern province of Quang Ninh has become vibrant as before the pandemic, showing a positive sign in the economic recovery of Mong Cai city in particular and Quang Ninh province in general.
Vietnam a potential market for French businesses, investors: experts

Vietnam a potential market for French businesses, investors: experts

French businesses should innovate their approach, enhance their understanding of culture and language, and make changes to adapt to Vietnam's transitioning economy in order to expand their market share and boost investment in the Southeast Asian nation, said Dr. Jean-Philippe Eglinger, the founder of the Viet Phap Strategies.
Import and export turnover across Cao Bang prospers but still exists difficulties

Import and export turnover across Cao Bang prospers but still exists difficulties

VCN – After China resumes trade, Cao Bang province's import and export activities see remarkable prosperity.

More News

Cashew industry strives to "get on the shelves of world supermarkets"

Cashew industry strives to "get on the shelves of world supermarkets"

VCN - Although holding the number one position in the world in exporting cashew kernels for many years, the position of Vietnam's cashew industry in the world cashew value chain is very small because it mainly exports kernels with preliminary treatment.
HCM City’s industrial production index down 0.9% in Q1

HCM City’s industrial production index down 0.9% in Q1

Ho Chi Minh City’s Index of Industrial Production (IIP) in the first quarter of 2023 declined by 0.9% compared to the same period last year, the municipal Department of Industry and Trade reported at a press conference on April 3.
Fisheries exports estimated at 1.85 billion USD in Q1

Fisheries exports estimated at 1.85 billion USD in Q1

Fisheries export value was estimated at 1.85 billion USD in the first quarter (Q1) of this year, a fall of 27% compared to the same period last year due to lower consumption and import demand under the impacts of inflation and economic recession, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Quang Ninh aims to attract quality FDI inflows

Quang Ninh aims to attract quality FDI inflows

The northern coastal province of Quang Ninh has strengthened measures to attract quality foreign direct investment (FDI) inflows, especially from big names in the processing-manufacturing industry.
Exports face many difficulties

Exports face many difficulties

VCN - In the first months of 2023, the absence of export orders plus the downward trend in commodity prices have slowed down trade activities.
Manufacturing enterprises increase their competitiveness thanks to digital transformation

Manufacturing enterprises increase their competitiveness thanks to digital transformation

VCN - Overcoming difficulties in 2023 requires manufacturing enterprises to self-improve and innovate. Digital technology is one of the effective solutions to help manufacturing businesses grow and compete.
32nd Việt Nam Expo promises to boost business linkages

32nd Việt Nam Expo promises to boost business linkages

The 32nd Việt Nam International Exhibition (Vietnam Expo) will take place in Hà Nội from April 5-8 with the participation of more than 500 domestic and foreign enterprieses, the event’s organisers have announced.
Prevention of price risks before news that Indonesia increases rice imports in reserve

Prevention of price risks before news that Indonesia increases rice imports in reserve

VCN - In response to demand signals from key markets such as Indonesia and the Philippines, the Import-Export Department (Ministry of Industry and Trade) suggested that rice exporters actively monitor the market situation and fully assess the opportunities as well as risks to build a trading plan.
Japanese investors highly appreciate Vietnamese property market

Japanese investors highly appreciate Vietnamese property market

Representatives from around 180 Japanese businesses and investors on April 1 attended a Tokyo workshop on Vietnamese real estate, during which many of them highly appreciated the potential of Vietnam’s property market.
Read More

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.

Latest Most read
Saigontex 2023 attracts over 1,300 domestic, foreign businesses

Saigontex 2023 attracts over 1,300 domestic, foreign businesses

More than 1,300 businesses from 21 countries and territories are participating in the Vietnam Textile & Garment Industry Expo (Saigontex) 2023, the leading exhibition of the industry in Southeast Asia, which opened in Ho Chi Minh City on April 5.
Mong Cai international border gate sees strong recovery

Mong Cai international border gate sees strong recovery

The Mong Cai international border gate in the northern province of Quang Ninh has become vibrant as before the pandemic, showing a positive sign in the economic recovery of Mong Cai city in particular and Quang Ninh province in general.
Vietnam a potential market for French businesses, investors: experts

Vietnam a potential market for French businesses, investors: experts

French businesses should innovate their approach, enhance their understanding of culture and language, and make changes to adapt to Vietnam's transitioning economy in order to expand their market share and boost investment in the Southeast Asian nation, said Dr. Jean-Philippe Eglinger, the founder of the Viet Phap Strategies.
Import and export turnover across Cao Bang prospers but still exists difficulties

Import and export turnover across Cao Bang prospers but still exists difficulties

VCN – After China resumes trade, Cao Bang province's import and export activities see remarkable prosperity.
Cashew industry strives to "get on the shelves of world supermarkets"

Cashew industry strives to "get on the shelves of world supermarkets"

VCN - Looking back to 2022, while the export turnover of the cashew industry reached US $ 3.08 billion, the import turnover of raw cashews consumed US $ 2.678 billion.
Mobile Version