Some 26,785 new enterprises were established in Viet Nam in the first three months of this year, with total registered capital of approximately VND278.49 trillion (US$12.2 billion).

Numbers were up 1.2 per cent and capital 2.7 per cent compared with the same period last year, according to the Ministry of Planning and Investment.

Notably, real estate firms recorded a significant increase in new establishment, with 1,226 firms in the first quarter, a year-on-year increase of 32.7 per cent.

Average registered capital in each enterprise established in the first quarter was VND10.4 billion, a year-on-year increase of 1.5 per cent. The number of workers employed at newly established enterprises was 225,389 people, down 22.7 per cent against the same period last year.

Some 8,449 enterprises resumed operations in the first three months, while 8,115 ceased operations or were awaiting dissolution and 3,321 others completed dissolution procedures.

In March alone, some 8,082 enterprises were newly established, with total registered capital of nearly VND81.16 trillion (U$3.56 billion). This was a rise of 2.8 per cent in the number of enterprises and 18 per cent in the registered capital compared with February.

On average, the registered capital of individual businesses decreased by 20.3 per cent to VND10 billion. The number of registered laborers for new businesses in the reviewed period saw a modest decline of three per cent to 68,979.

Besides this, some 1,801 firms returned to operation in March alone, down 22.3 per cent against the previous month. — VNS