Startups rise in first eight months
The number of newly established firms in January-August has jumped 19.7% year-on-year to more than 73,400, according to the Business Registration Agency under the Ministry of Planning and Investment.
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These startups have total registered capital of VND567.9 trillion (US$25.47) billion, surging 50.9%.
The number of startups has increased across all sectors. There are 1,900 firms in the real estate sector, leaping 101.3% year-on-year; 1,724 firms in training and education, up 41.9%; and 724 firms in finance, banking and insurance, up 24.6%.
Entertainment is the only sector that saw a decrease in startups with 906 firms, down 34% compared to the same period last year.
As for capital, new real estate enterprises have registered VND133.37 trillion, up a staggering 268.4%; the mining sector VND19.7 trillion, soaring 247%; information and communications VND17.4 trillion, surging 183%; science, technology, consulting service, design and advertising VND34.9 trillion, rising by 125.3%.
The average registered capital of a company in the first eight months is VND7.7 billion, a year-on-year increase of 26%.
New enterprises in January-August have planned to employ 857,200 laborers, down 1.8% against the same period last year.
Operational businesses have registered to add a total of VND1,024 trillion in the eight-month period.
More than 18,700 suspended businesses have resumed operation in the year to August, up 65.1%.
Over 14,920 enterprises have suspended operation in the period, increasing 32.7% year-on-year. The number of firms that have stopped operation without prior notice or have waited for dissolution has fallen by down 8.3% to around 25,500, with 93% of them having registered capital of less than VND10 billion.
