Record rise seen in number of new, resuming firms in 8 months
Record rise was seen in the number of newly-established firms and those returning to the market in the first eight months of this year thanks to a surge in August’s figures, according to the Business Registration Agency under the Ministry of Planning and Investment.
Hanoi (VNA) – Record rise was seen in the numberof newly-established firms and those returning to the market in the firsteight months of this year thanks to a surge in August’s figures, according to theBusiness Registration Agency under the Ministry of Planning and Investment.
The agency reported that in the month, 11,918 new enterpriseswere set up with combined registered capital topping 130.19 trillion VND (5.56 billion USD), ayear-on-year rise of 106.9% and 91.6%, respectively.
It explained that as August 2021 saw complicated developments of COVID-19 with socialdistancing measures imposed in many localities, production and business activities wereinterrupted.
A year later, the number of businesses returning to the market increased67.1% over the same period last year to 6,458, the highest for a monthto date.
The results pushed the number of newly-established firms andenterprises returning to the market in the first eight months of this year to 149,451,up 31.1% year on year. Of the total, the number of new firms was 101,325, arise of 24.2% year on year.
Processing business registration at the Business Registration Office of the Hanoi Department of Planning and Investment. (Photo: VNA)
Total capital added to the economy in the first eight monthsof this year also rose 36.1% year on year to 3.63 quadrillion VND, including 1.13 quadrillion VND poured into new firms and 2.5 quadrillioninto operating businesses.
According to the agency, 15 out of the 17 sectors saw anincrease in the number of new firms, led by accommodation and catering serviceat 51.7%.
Meanwhile, in the January-August period, 104,317 businesses left the market,including 59,609 firms halting their operations in a short term.
Despite the positive signs in the business number, the averagecapital of an enterprise fell 26.1% in August compared to that in January,20.8% over the same period in 2021 and 34.2% over the same time in 2020.Experts held that this showed the caution of businesses and their difficultiesin accessing capital./.
The number of newly-established firms in the last quarter of this year reached 31,400 with total registered capital amounting to 415.3 trillion VND (18.21 billion USD), the General Statistics Office (GSO) has said.
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Illustrative image (Source: VNA) 
Processing business registration at the Business Registration Office of the Hanoi Department of Planning and Investment. (Photo: VNA) 
