Some 11,000 enterprises were established with a registered capital of VND98.27 trillion (US$4.31 billion) in the first month of this year.

These figures represented respective increases of 20.6 per cent and 8.9 per cent compared to the same month last year, data of the Ministry of Planning and Investment revealed.

January also saw more than 3,520 firms raising their levels of capital by VND218 trillion ($9.56 billion), while nearly 4,600 enterprises resumed their operations, according to the ministry.

The average registered capital for each business this month was VND9.1 billion (approximately $400,000), down 10 per cent year-on-year. Meanwhile, the number of labourers in the newly-established enterprises was 85,300 people, marking a yearly decrease of 18 per cent.

According to the data, the number of new enterprises were concentrated mainly in the wholesale, retail, automobiles and motorbikes repairing sectors, reaching more than 3,800, accounting for 35.1 per cent of the total enterprises; there were 1,380 enterprises operating in the construction sector, or 12.7 per cent, and 1,320 enterprises in the processing and manufacturing industry, making up 2.2 per cent.

Regarding the registered capital, the construction sector recorded the highest registered capital of more than VND20.61 trillion ($904 million), accounting for 21 per cent. The real estate came second with VND17.56 trillion ($770 million) or 18 per cent, while the wholesale, retail, automobiles and motorbikes repairing sectors ranked third with VND17.17 trillion ($753 million), or 17.5 per cent. — VNS