A textile manufacturing factory in Thanh Xuân District, Hà Nội. The number of new enterprises established in the industry and construction in the last ten months accounts for over 23 per cent of the economy's total. — VNA/VNS Photo Trần Việt

A total of 136,085 new enterprises have been established across sectors by the end of October, up 1.87 per cent compared to the same period of 2023, according to the Ministry of Planning and Investment.

The service sector recorded the biggest number of new companies at 103,127, which is an annual increase of 2.73 per cent and accounts for 75.8 per cent of the economy’s total.

Next up the industry and construction sector with 31,585 new enterprises, which is 23.2 per cent of the total, but down 0.53 per cent compared to 2023.

The agriculture, forestry and fishery sector had 1,373 new enterprises, a decrease of 5.24 per cent over the same period last year.

The total registered capital of these new enterprises is VNĐ1.3 quadrillion (US$512.7 billion), up 4.1 per cent compared to the first ten months of 2023. However, only 815,574 employees were registered, which is an annual decrease of 8.7 per cent.

The average registered capital per enterprise was VNĐ9.6 billion ($378,800), approximately equivalent to the same period in 2023, but lower than the average of the first 10 months of the 2020-24 period (VNĐ11.2 billion).

Conversely, 173,200 enterprises withdrew from the market in the last ten months, of which 92,135 were temporarily suspended, 63,712 are in the process of being dissolved and 17,353 officially closed. — VNS