The Government’s solutions to support the development of enterprises has proven effective, with a surge in the number of newly established firms in the first nine months of 2017.
Hanoi (VNA) – The Government’s solutions to support thedevelopment of enterprises has proven effective, with a surge in the number ofnewly established firms in the first nine months of 2017.
Pham Dinh Thuy, head of the Industrial Statistics under the GeneralStatistics Office (GSO), said the improvement of investment-businessenvironment assisted the business community and met enterprises’ demand in the contextof economic integration.
According to theGSO, as many as 93,967 new enterprises were established in the first ninemonths of this year with total capital of more than 902.6 trillion VND (39.7billion USD), a year-on-year rise of 15.4 percent and 43.5 percent, respectively.
Average registeredcapital of each firm was 9.6 billion VND (4.22 million USD), a rise of 24.4percent over the same period last year.
At the same time, some 1.24 quadrillion VND (54.5 billion USD) wasinjected into more than 27,500 businesses, raising total capital pumped intothe economy to 2.14 quadrillion VND (94.16 billion USD).
More than 21,100enterprises also resumed operations in the first nine months of the year.
Total employees ofthe newly-established firms in nine months were 886,500, down 4.5 percent overthe same period last year.
Of the total newfirms set up in the first nine months of 2017, 33,900 operated in retail andwholesales, an increase of 17.3 percent, while 12,000 specialised in processingand manufacturing industry, up 9 percent, and 11,900 in construction, a rise of12.7 percent.
Experts said that to operate effectively, the new firms should focus on high-valuesectors and creating trademarks.
The Ministry of Planning and Investment has also built a project toreduce input costs for businesses and to improve the competitiveness of theeconomy.
Additionally, efforts to build e-public services will be continued, whichare expected to save both time and money for businesses in registering for businesslicences.-VNA
A total of 8,600 new enterprises with total registered capital of nearly 80.5 trillion VND (3.54 billion USD) were set up in September, according to the Ministry of Planning and Investment.
More than 29,900 enterprises were established with total registered capital of nearly 396.5 trillion VND (17.44 billion USD) in HCM City in the first nine months of the year, according to the city’s People’s Committee.
As many as 93,967 new enterprises were set up in the first nine months of this year with total capital of over 902.6 trillion VND (39.7 billion USD), a year-on-year rise of 15.4 percent and 43.5 percent, respectively.
The southern industrial hub of Binh Duong reported 3,889 new firms in the January-September period, which pumped a total of 34.8 trillion VND (1.53 billion USD) in registered capital into the local economy.
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Illustrative image (Source: VNA) 
