Number of newly-established firms up 21.7% in October
Vietnam saw over 15,400 newly-established enterprises with total registered capital of 125.8 trillion VND (5.1 billion USD) and a registered workforce of 131,600 in October, up 21.7% in the number of firms, 7.4% in capital and 64.3% in the number of labourers over the previous month, according to the General Statistics Office (GSO).
Vietnam recorded 131,800 new firms in the first ten months of this year with combined registered capital of over 1.21 quadrillion and 880,000 labourers. (Photo: VNA)
Hanoi (VNA)ౠ –Vietnam saw over 15,400 newly-established enterprises with total registered capitalof 125.8 trillion VND (5.1 billion USD) and a registered workforce of 131,600 in October, up 21.7% in the number of firms, 7.4% in capital and 64.3% in the number of labourers over the previous month, according to the GeneralStatistics Office (GSO).
The country recorded 131,800 newfirms in the first ten months of this year with combined registered capital of over1.21 quadrillion and 880,000 labourers, it said. The figures representedincreases of 4.7% in the number of firms and 5.4% in the workforce but fell 12.1% in registered capital compared with the same period last year, the GSO said, adding that theaverage capital of new enterprises in the period was 9.2 billion VND. The number of enterprisesresuming operations in during the period was 51,900, a year-on-year decline of1.5%.
Meanwhile, 81,000enterprises temporarily ceased operations, up 22.1% against last year's sameperiod. Some 50,700 businesses stopped operations, waiting for dissolution procedures, a year-on-year rise of25.9%, and 14,700 enterprises completed dissolution procedures, down 4.5%. On average,14,700 businesses withdrew from the market every month.
🥀 From January to October, 1,427 newly-established enterprises operated in theagriculture, forestry and fishery sectors, down 15.3% over the same period lastyear; over 31,300 firms in the industrial and construction sectors, up 0.8%; and99,000 in the service sector, up 6.4%.
The increase in the number ofnewly-established industrial enterprises reflected that industrial productioncontinued to flourish after suffering negative growth for many months. It alsoshowed that the measures to assist businesses of the Government, the Ministry ofIndustry and Trade and other ministries and agencies have brought aboutpositive effects. Deputy Minister of Industry and TradeDo Thang Hai suggested industry and business associations proactively guideenterprises in building strategies, production and business plans that arerelevant to the needs and capabilities of each unit as well as transformproduction and business in accordance with market trends, especially shiftingto green and sustainable exports. He noted that businesses muststrictly and fully comply with state regulations and policies, ensuringtraceability of origin and requirements of foreign markets. They should take full advantageof opportunities and recovery trends of markets to boost exports, Hai added./.
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Vietnam recorded 131,800 new firms in the first ten months of this year with combined registered capital of over 1.21 quadrillion and 880,000 labourers. (Photo: VNA) 
