GSO surveyed 4,028 local enterprises in September, adding that 86.9 per cent of the enterprises planned higher or stable export turnover in the last quarter. — Illustrative image/ Photo entrepreneur.com

HA NOI (Biz Hub) — More than 68,000 new enterprises registered for establishment in the first nine months of this year, an increase of 28.5 per cent over the same period last year, the Ministry of Planning and Investment (MPI) reported yesterday.

MPI added that total registered capital reached of VND420 trillion (US$18.66 billion) in the nine-month period, up 31.4 per cent over the same period in 2014.

In addition with the expansion capital of VND608 trillion ($27.2 billion), more than VND1,000 trillion ($44.4 billion) of capital has been added to the local economy.

Average registered capital per enterprise also surged by 2.3 per cent to reach VND6.2 billion ($275,494) in the first nine months of this year. These enterprises also created about 1 million new jobs.

The ministry said that 6,962 companies had dissolved or ceased operations so far this year, 0.9 per cent lower than last year.

It specified that most of the dissolved businesses were small-scale, with charter capital of less than VND10 billion ($444,345) each.

MPI also reported 47,000 enterprises must cease operations due to difficulties, however added 12,848 firms resumed.

The ministry emphasised that enterprises should improve labor productivity and technology to create higher value products and increase competitiveness to reduce the number of bankrupted enterprises. According to the latest survey from the General Statistics of Viet Nam (GSO), 85.6 per cent of enterprises felt positive about their business prospects in the last quarter.

GSO surveyed 4,028 local enterprises in September, adding that 86.9 per cent of the enterprises planned higher or stable export turnover in the last quarter.

It said industries with positive outlooks included producers of medicine, chemicals, cigarette, garment and textile, electronics and IT products, motor vehicles and furniture. The GSO said industry production tended to recover and developed much better than during the economic crisis between 2008 and 2014, adding that most enterprises have been doing better in the second half of the year than in the first half. — VNS