New companies, shutdowns both rise at fast pace in Vietnam: data
A total of 36,626 companies in Vietnam were closed in the first six months, or around 203 shutdowns a day, according to new data released by the Ministry of Planning and Investment.
Among them, 5,507 have completed procedures for dissolution, up 17% from the same period last year. The rest were temporarily shut down, a rise of 15%.
Most of the companies were small with a registered capital less than VND10 billion (US$441,950).
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On the other hand, 54,501 new businesses were launched in the first half of the year, an increase of 20%. Their combined registered capital was more than VND427.76 trillion (US$18.9 billion).
Real estate recorded the highest growth with 1,354 companies launched, up 110.9 percent year-on-year. It was followed by health care and education sectors with the respective rises of 80% and 40%.