A total of 3,999 new enterprises have been set up in the southern province of Binh Duong since the beginning of 2020, with registered capital of VND26.95 trillion (US$1.16 billion).— Photo doanhnghiepbinhduong.com.vn

A total of 3,999 new enterprises have been set up in the southern province of Binh Duong since the beginning of 2020, with registered capital of VND26.95 trillion (US$1.16 billion).

The figures represented slight annual decreases of 2.5 per cent in the number of firms and 1 per cent in capital value.

The reduction reflected the impact of the COVID-19 pandemic on business operations in the province.

On average, each firm registered VND6.74 billion worth of capital during the period, increasing 2.1 per cent year-on-year.

The freshly established companies operate across 17 sectors.

Sectors that recorded annual increases in the number of newcomers included agro-fishery (up 68.75 per cent); health and social aid activities (45.45 per cent); information and communications (14 per cent); and education and training (13.7 per cent).

Notably, electricity production and distribution posted a significant rise of 1,685 per cent against last year.

Phu Huu Minh, vice director of the province's Department of Planning and Investment, said to facilitate new registrations in the current difficult time, the department has capitalised on its information system, delivered outcomes via postal services, and guided firms to use online administrative services. — VNS