(Illustrative photo: VNA) Hanoi (VNA) – A totalof 8,276 new enterprises were established in the first month of 2020, down 17.9percent year-on-year, but the total registered capital of the firms surgedsharply by 76.8 percent to 267.2 trillion VND (11.55 billion USD), the highestgrowth rate in four years, the General Statistics Office (GSO) reported.
With the surge, averageregistered capital of new enterprises was at 32.3 billion VND, up 115.3 percentyear-on-year.
The decline in the number ofnew enterprises in January was attributed to the country’s largest festival –Lunar New Year – while the sharp surge in capital was thanks to theestablishment of a new enterprise in the finance-banking-insurance industrythat had a registered capital of 144 trillion VND (6.22 billion USD),accounting for 53.9 percent of the total registered capital.
The new enterprises created84,500 jobs, down 21.7 percent year-on-year.
January also saw 8,470enterprises resuming operations, a rise of 0.1 percent against the same periodlast year, bringing the total number of newly-registered and revivedenterprises in January to 16,746.
A number of industrieswitnessed significant declines in the number of newly-established enterprisesin the month. Motorbike and automobile trading and repair was down 38.6 percentyear-on-year; mining, down 32.6 percent, healthcare and social welfare down23.9 percent, construction down 15.1 percent and manufacturing and processingdown 7 percent.
However, five industries sawthe number of newly established enterprises increasing, including productionand distribution of electricity, gas and water up 8.6 percent; information andcommunications up 8 percent; science, technology, consultancy, design,advertising and others up 4.6 percent; education and training up 2 percent; andcatering services and accommodation up 0.2 percent.
The GSO also reported that thenumber of enterprises temporarily ceasing operations in January was 11,702, up8.3 percent year-on-year.
The number of enterprises whichfinished procedures for bankruptcy in the period was 1,621, down 10 percentfrom the same period last year. Of the enterprises, 1,451 had registered capitalof less than 10 billion VND./.
With the surge, averageregistered capital of new enterprises was at 32.3 billion VND, up 115.3 percentyear-on-year.
The decline in the number ofnew enterprises in January was attributed to the country’s largest festival –Lunar New Year – while the sharp surge in capital was thanks to theestablishment of a new enterprise in the finance-banking-insurance industrythat had a registered capital of 144 trillion VND (6.22 billion USD),accounting for 53.9 percent of the total registered capital.
The new enterprises created84,500 jobs, down 21.7 percent year-on-year.
January also saw 8,470enterprises resuming operations, a rise of 0.1 percent against the same periodlast year, bringing the total number of newly-registered and revivedenterprises in January to 16,746.
A number of industrieswitnessed significant declines in the number of newly-established enterprisesin the month. Motorbike and automobile trading and repair was down 38.6 percentyear-on-year; mining, down 32.6 percent, healthcare and social welfare down23.9 percent, construction down 15.1 percent and manufacturing and processingdown 7 percent.
However, five industries sawthe number of newly established enterprises increasing, including productionand distribution of electricity, gas and water up 8.6 percent; information andcommunications up 8 percent; science, technology, consultancy, design,advertising and others up 4.6 percent; education and training up 2 percent; andcatering services and accommodation up 0.2 percent.
The GSO also reported that thenumber of enterprises temporarily ceasing operations in January was 11,702, up8.3 percent year-on-year.
The number of enterprises whichfinished procedures for bankruptcy in the period was 1,621, down 10 percentfrom the same period last year. Of the enterprises, 1,451 had registered capitalof less than 10 billion VND./.
VNA
