More firms established, resuming operation in October
Noticeable increases in the number of enterprises that were newly established or restarted operation were recorded in October in comparison to September, signaling a recovering post-pandemic market, an office has said.
Hanoi (VNA) – Noticeable increases in the numberof enterprises that were newly established or restarted operation were recordedin October in comparison to September, signaling a recovering post-pandemicmarket, an office has said.
According to the Agency for Business Registration under theMinistry of Planning and Investment, 12,205 new firms entered the market lastmonth, up 18.4 percent from September and 0.2 percent from the same period lastyear.
Meanwhile, October saw 5,044 companies resume theirbusinesses, mostly in retail sale, automobile repair, construction,processing-manufacturing industry, realty and tourism. The figure is 10.4percent higher than that of the previous month.
In the first 10 months of this year, Vietnam had 111,160 newfirms, a mere annual decrease of 2.9 percent.
The period also recorded a 14.4 percent on-year increase inthe average registered capital per enterprise which was 14.3 billion VND (617,070USD). This meant the scale of new firms has been expanded.
Also in the period, existing companies added 3.89quadrillion VND to their capital, up 17 percent from last year, reflectingtheir confidence in the country’ post-pandemic recovery.
On the other hand, 85,541 firms withdrew from the market inthe 10 months, increasing 58.7 percent year on year. Of them, 41,783 registeredfor a limited shutdown.
The agency said such figures demonstrated a prolonged andheavy impact of COVID-19 on business and production./.
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Illustrative photo (Source: VNA) 
