Number of businesses increases in Viet Nam

Tuesday, Oct 04, 2016 11:00

Rise in the first 9 months of 2016 with focus on manufacturing sector, expected to indicate efficiency from government policy — Photo
HA NOI (Biz Hub) – Viet Nam had 81,451 new registered businesses in the first nine months of this year, focusing on manufacturing and processing.

According to the General Department of Statistics, the newly established businesses have the total registered capital of VND629 trillion (US$28 billion), an increase of 19.2 per cent in terms of the number of businesses and 49.5 per cent in terms of registered capital, compared with the same period last year.

On average, an individual business' registered capital increased by 25.4 per cent to VND7.7 billion ($344,000). The number of registered labourers for the said businesses increased to 928,700, equal to 92.9 per cent of 2015's number.

In the first nine months of 2016, 20,510 businesses resumed operation, an increase of 59.6 per cent compared with the 2015 increase of 8.2 per cent. This brings the total amount of new businesses and reinstated businesses to some 102,000.

The General Department of Statistics said the production and business trend within the manufacturing and processing sectors had witnessed a rise, with positive outlook for the third quarter of 2016.

These sectors showed an increase of 7.4 per cent in production for the first nine months of 2016.

This growth trend shows the effectiveness of the new Government's solutions and legal framework in supporting and encouraging business development to find new orientation and opportunities. – VNS

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