More than 629,000 labourers are expected to earn employment at the new companies, increasing 6.5 per cent against last year. — Photo alcottgroup.com

HA NOI (Biz Hub) — Nearly 42,400 enterprises were established in the country in the first seven months of the year, down 7 per cent in the number of new businesses as compared to 2013.

Data from the Ministry of Planning and Investment, however, showed that with total registered capital of VND262.4 trillion (US$12.33 billion), the figures were up 17.8 per cent as compared with the same period last year.

Last month alone, the number of newly established enterprises went over 5,000 with total registered capital of VND31.5 trillion ($1.5 billion), reducing 16.5 per cent against the previous month.

The average registered capital per newly established business was VND6.19 billion ($290,930), representing 26.7 per cent year-on-year increase. More than 629,000 labourers are expected to earn employment at the new companies, increasing 6.5 per cent against last year.

The period also saw 37,612 enterprises dissolved and suspending operations, representing an increase of 9.8 per cent against the previous year. Of this, 5,610 enterprises were dissolved while 6,774 businesses temporarily halted operations with registration. The remaining 25,228 ceased their operations in wait for payment of enterprise code or without registration.

Total registered capital of those in difficulties which are bound to stop operations reached VND291.6 trillion ($13.7 billion), accounting for 84.5 per cent of the total capital supplemented during the period.

As many as 9,428 businesses have resumed operations in seven months, decreasing by 6.4 per cent against the same period last year. — VNS