Number of newly-established firms surges in October

Tuesday, Nov 03, 2020 08:19

In October, 5,044 enterprises resumed operations, up 10.4 per cent month-on-month. — Photo

The development of new enterprises and operation of some existing enterprises rose in October, according to the General Statistics Office (GSO).

In October, 12,200 new enterprises were established with registered capital of VND165.6 trillion. These figures were up 18.4 per cent in terms of the number of new enterprises, but down 18.5 per cent in registered capital compared to September.

The average registered capital reached VND13.6 billion per new enterprise, down 31.2 per cent month-on-month but up 15.1 per cent year-on-year.

The GSO also reported that in October, 5,044 enterprises resumed operations, up 10.4 per cent month-on-month but down 30.4 per cent year-on-year.

In total, 3,293 enterprises suspended their operations, up 0.7 per cent over the previous month and 57.9 per cent over the same period last year. Meanwhile, 3,579 businesses were waiting for dissolution procedures, down 12.6 per cent month-on-month and 28.6 per cent year-on-year.

During the first 10 months of 2020, Viet Nam had 111,200 newly-established enterprises with total register capital of about VND1.6 trillion, a decrease of 2.9 per cent in terms of number but an increase of 11.1 per cent in capital over the same period last year.

The average registered capital of a new enterprise in the first 10 months reached VND14.3 billion, 14.4 per cent higher than the same period last year, according to the GSO.

Existing enterprises also registered to raise their joint capital by VND2.3 trillion in the first 10 months, meaning the domestic economy received VND3.9 trillion, a year-on-year increase of 17 per cent.

Besides that, 37,700 enterprises resumed operations, an increase of 8.2 per cent year-on-year. About 41,800 businesses were suspended, up by 58.7 per cent, while 30,300 businesses stopped operations to complete dissolution procedures, down 12.4 per cent. — VNS

Comments (0)