THAI BINH (Biz Hub)— Up to 286 businesses have stopped operation in northern province of Thai Binh since the beginning of this year, up 54 per cent year-on-year.
The provincial Business Association chairman Tran Huu Khoa announced the figures, saying the local firms' poor management and financial capacities and negative influence of the global economic downturn were behind the situation.
Enterprises will continue to face many challenges in the time ahead, Khoa said, petitioning the State's further assistance in policies, administrative procedures as well as finance in order to help them overcome difficulties. —VNS