Nearly 100,000 businesses enters the market

Tuesday, May 28, 2024 08:46

Workers of Toàn Phát Company in Hà Nam Province make garment products for exports. — VNA/VNS Photo Trần Việt

A total of 98,825 enterprises entered or re-entered the market in the first five months of this year, a year-on-year increase of 4.1 percent.

Among those businesses, 64,758 were newly established, an increase of 4.5 per cent over the same period last year, reported the Agency for Business Registration under the Ministry of Planning and Investment (MPI).

The registered capital for establishment reached VNĐ601 trillion (US$24.5 billion), up 5.7 per cent compared to the same period in 2023.

However, the total registered capital added to the economy was VNĐ1.27 quadrillion in the first five months, down 9 percent year-on-year.

There were 18,567 operating enterprises registered to increase capital in the first five months of the year, a decrease of 12.1 per cent over the same period.

The amount of additionally registered capital of operating enterprises reached VNĐ666.89 trillion, down 19.2 per cent year-on-year.

However, a positive note is that the average registered capital per enterprise reached VNĐ9.3 billion in the first five months of the year, an increase of 1.2 per cent over the same period last year.

Ten out of 17 industries saw growth in the number of newly established businesses, with the top sectors being transportation and warehousing (up 20.8 per cent), wholesale, retail, car and motorbike repair (up 11.2 per cent), and production and distribution of electricity, water, and gas (up 9.4 per cent).

The total number of registered employees of newly established enterprises was 426,381 in the first five months of the year, up 5 per cent.

On the contrary, 97,299 businesses in the country withdrew from the market, an increase of 10.5 percent.

Of these, 66,072 businesses chose to temporarily suspend operations, rising 19.7 per cent over the same period from 2023; 23,262 firms are awaiting dissolution procedures, down 8.8 per cent, and 7,965 have been dissolved, up 8.4 per cent.

The number of businesses entering and re-entering the market was still higher than those withdrawing. — VNS

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