Over 22,100 new businesses established in two months
Vietnam witnessed the establishment of 22,128 enterprises in the first two months of the year with combined registered capital of nearly 219 trillion VND (8.88 billion USD), according to the Ministry of Planning and Investment’s Business Registration Management Agency.
The S&P Global Vietnam Manufacturing Purchasing Managers’ Index (PMI) is 50.4 in February, up from 50.3 in January. (Photo: nhandan.vn)
Hanoi (VNA) - Vietnam witnessed the establishment of 22,128 enterprisesin the first two months of the year with combined registered capital of nearly 219 trillion VND (8.88billion USD), according to the Ministry of Planning andInvestment’s Business Registration Management Agency.
The figures represented a year-on-year increase of12.4% in the number of new businesses, and a rise of 32.8% in capital.
Industries with sharp increases in the number ofnewly-established enterprises included mining (up 28.8%), transport andwarehouse (26.5%), and other services (21.5%).
Additionally, 18,969 companies resumed their operations in the January-February period, bringing the total number of newly-established firms and enterprises resuming operations to 41,097, a 8.5% rise from the same time in 2023.
Meanwhile, a total of 62,977 businesses withdrewfrom the market during January – February, up 22.5% year-on-year, demonstratingthe fact that enterprises have been facing difficulties in business andproduction.
The S&P Global Vietnam Manufacturing Purchasing Managers’Index (PMI) posted 50.4 in February, up from 50.3 in January, and above the50.0 no-change mark for the second consecutive month. Experts said the rate of improvement in the sector’s healthsignaled by the index remained only marginal; however, there was a rise in bothemployment and business confidence.
According the General Statistics Office, improving business climate should be prioritised witha view to promoting businesses’ fast and sustainable development. The focusshould be placed on the removal of bottlenecks in legal procedures forinvestment and business activities.
Besides, the State Bank of Vietnam should continue measures to gear capitaltowards priority areas and growth driving forces, remove roadblocks to offeradded-value tax refunds to tax payers in a timely manner, and improve theefficiency of the credit guarantee fund for small and medium sized enterprises(SMEs) and the fund for SMEs’ development.
Furthermore, businessesshould be urged to promote innovation, digital transformation and greentransition towards sustainable development./.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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The S&P Global Vietnam Manufacturing Purchasing Managers’ Index (PMI) is 50.4 in February, up from 50.3 in January. (Photo: nhandan.vn) 
