Number of new businesses increases in Vietnam

Nearly 11,000 new enterprises were established in the country in May with total registered capital of VND119.24 trillion (US$5.24 billion).

number of new businesses increases in vietnam hinh 0
This was a rise of 9.3 % in the number of enterprises and 17.8 % in the registered capital compared to the same period last year.

On average, the registered capital of individual businesses increased by 7.9 % to 10.9 billion VND, according to the Ministry of Planning and Investment’s National Enterprise Information and Registration System.

Totally, in the first five months of this year, the country had 50,534 newly-established enterprises with total capital of 485.6 trillion VND, a year-on-year rise of 12.9 % in the number of enterprises and of 39 % in the registered capital.

The five-month increase, however, was lower than that of the same period last year with 24.1 % rise and 59.3 % growth in term of enterprise quantity and level of capital, respectively.

Notably, the number of registered labourers for new businesses in the reviewed period saw a modest decline of 2 % to 521,700, the system reported.

From January to May, the number of newly-established enterprises surged 72.8 % in property trading sector; 38.9 % in banking, finance and insurance; 31 % in education and training sector; 27.3 % in health-care and social support activities; and 18.4 % in the sector of accommodation and catering services, in addition to 12.6 % in construction industry and 11.7 % in manufacturing and processing industry.

The five-month period also saw some 32,145 enterprises suspending operations, surging 12.5 % year-on-year while 4,685 enterprises were dissolved in the period, which was 1 % higher than last year’s corresponding period.