More than 34,700 companies opened in the first four months of this year, creating 427,200 jobs for local people. — VNA/VNS Photo Ngoc Ha

HA NOI (Biz Hub) — As many as 10,954 enterprises were formed in April with total registered capital of VND62.2 trillion (over US$2.7 billion), according to the General Statistics Office (GSO).

The number of newly-established business increased by 19.2 per cent year-on-year, while registered capital jumped 21.3 per cent against the same period last year.

In the first four months of this year, 34,721 new enterprises were established with total capital of VND248.2 trillion, a year-on-year rises of 22.9 per cent and 52.8 per cent, respectively.

During the reviewed period, each new company had an average investment of VND7.1 billion, up 24.2 per cent over the same period last year. The new firms were expected to employ 427,200 people.

A total of VND801.5 trillion was added to the country's economy.

According to the GSO, 25,135 enterprises stopped operations from January to April, meanwhile, 11,331 enterprises resumed operations.

Experts of the GSO attributed the strong increase in business numbers to more open State policies on administrative procedures.

They said that despite the high number of newly-established businesses and the strong volume of new capital added to the country's economy, the ratio of job creation in the first four months reached 472,200 people, or a reduction of 0.2 per cent over the same period last year.

Meanwhile, the total number of newly-established enterprises in HCM City which opened this year was 10,450, according to the GSO.

The number includes 225 private companies, 1,186 joint stock companies and 9,038 limited companies. Nearly 80 per cent of them are involved in services.

The total registered capital of all enterprises increased 82.3 per cent compared to the same period last year by more than VND81.5 trillion.

The capital for agro-forestry and trade services doubled compared to last year, while the number of enterprises in the two fields rose by 26-28 per cent.

The GSO also announced that VND9.59 trillion in State revenue in the first four months of the year was collected from personal income tax, an increase of VND1.3 trillion compared to the same period last year.

The number indicated that the personal income had improved.

State revenue collected from non-governmental and foreign direct investment companies totalled VND17.4 trillion and VND17.6 trillion, a year-on-year rise of 30.5 per cent and 16.5 per cent, respectively.

Service sector

The total number of newly established enterprises in HCM City which opened this year was 10,450, according to the city's Statistics Office.

The number includes 225 private companies, 1,186 joint stock companies and 9,038 limited companies. Nearly 80 per cent of them are involved in services.

The total registered capital of all enterprises increased 82.3 per cent compared to the same period last year by more than VND81.5 trillion ($3.7 billion).

The capital for agro-forestry and trade services doubled compared to last year, while the number of enterprises in the two fields rose by 26-28 per cent.

The Statistics Office also announced that VND9.59 trillion ($436 million) in state revenue in the first four months of the year was collected from personal income tax, an increase of VND1.3 trillion ($59 million) compared to the same period last year.

The number indicated that the personal income had improved.

State revenue collected from non-governmental and foreign direct investment companies totalled VND17.4 trillion ($790 million) and VND17.6 trillion ($800 million), a year-on-year rise of 30.5 per cent and 16.5 per cent, respectively. — VNS