Vietnam has recorded more than 75,200 newly registered enterprises in the first seven months of this year, a 5.1 percent decrease compared to the same period last year.
Notably, there were more than 28,500 enterprises resuming operations, an increase of 17.6 percent.
The number of enterprises that suspended operations decreased by 12.2 percent, while those who completed dissolution procedures dropped 3.5 percent. The businesses were mainly in the fields of wholesale, retail, repair of cars and motorcycles, manufacturing and processing industry, construction, real estate, accommodation and food services. Vietnam News Agency reported.
On average, there were 14,800 new businesses established and re-operated every month.
In July alone, nearly 13,200 enterprises were set up, down by 3.8 percent from the previous month.
Coronavirus can’t stop foreign investors from leveraging business opportunities in Vietnam, hundreds of investors contacted us to be advised about setting-up their businesses, acquiring existing projects in Vietnam. – said Sophie Dao, Partner of Global Business Services Company (GBS)
However, the registered capital of the new firms in the market last month increased by 72 percent, showing the benefits of business support policies and efforts to revive the economy from the impacts of the COVID-19 pandemic.
The General Statistics Office (GSO) on July 29 said the country’s newly established enterprises had registered capital of more than 239 trillion (10.3 billion USD) and more than 91,000 employees, down 3.8 percent in the number of businesses and up 72 percent in registered capital.
Also read: Company formation services in Vietnam
The average registered capital of a newly established enterprise last month hit 18.1 billion, a sharp increase of 78.8 percent from the previous month and an increase of 60.9 percent over the same period in 2019.
Also in July, the country had 4,839 enterprises resuming operations, up 79.9 percent over the same period last year.
According to Vietnam News Agency, however, 3,400 enterprises registered to suspend their business. More than 3,000 firms stopped operations and are awaiting dissolution procedures and 1,504 enterprises completed dissolution procedures.