More than 96,600 firms were founded in the January-September period with a total registered capital of VND963.4 trillion (US$44.88 billion), representing a rise of 2.8 per cent and 6.7 per cent, respectively, over the same period last year, according to the latest updates of the General Statistics Office (GSO).

The average registered capital was VND10 billion each firm, up by 3.8 per cent.

Together with more than VND1.88 trillion worth of additional capital by exiting firms, a total of nearly VND2.85 trillion was poured into the economy in the first nine months of this year.

Besides, nearly 22,900 firms resumed operation in the period, up by 8.5 per cent.

However, the number of firms halting operations was alarming.

The GSO’s report about socio-economic development in January-September showed that more than 73,000 firms halted operation, up by 48.1 per cent over the same period last year. Together with 11,500 companies that completed the procedures for dissolution in the period, most of the firms are those with capital of below VND10 billion. This meant that on average 270 firms halted or stopped operations each day.

A GSO survey founded that firms in the manufacturing and processing industry have different views about the business prospects in the remaining months of this year.

About 52 per cent of the surveyed firms said that the trend would be positive while 35.8 per cent saw the business would be stable and 11.7 per cent forecast more difficult in the last quarter of this year. — VNS