More than 29,900 enterprises were established with total registered capital of nearly VND396.5 trillion (US$17.44 billion) in HCM City in the first nine months of the year, according to the city’s People’s Committee.

This was an increase of 13 per cent in the number of newly established businesses and 84.5 per cent in registered capital, with most of the new businesses located mainly in districts 1, Tan Binh, Go Vap, Binh Thanh and Binh Tan.

In addition, more than 44,000 operating companies have pledged an additional registered capital of VND218.3 billion, up 11.2 per cent and 49.6 per cent, respectively, compared to the same period last year.

Overall, the total registered capital of new and operating companies in HCM City in the first nine months was VND614.8 billion, a year-on-year increase of 70.4 per cent.

More than 17,500 new firms are one-member limited liability companies, accounting for 58.6 per cent of the total, followed by limited liability companies with two or more members, joint-stock companies (11.9 per cent) and 404 private companies (1.4 per cent).

Real-estate service and trading companies had the largest registered capital with more than VND156.6 trillion, accounting for 39.5 per cent of the city’s total, representing an increase of nearly 75 per cent year-on-year.

Auto and motorbike repair and sales companies made up 16.2 per cent with over VND64.3 trillion, up 66.6 per cent, and construction had over VND52.8 trillion, a twofold increase over the same period last year.

Notably, the science and technology, design consultancy and marketing sectors saw over VND29.5 trillion registered capital in the period, a twofold year-on year increase.

The city, which targets having 500,000 operating enterprises by 2020, is assisting and encouraging business households to become official enterprises.

Nearly 1,400 business households are now official enterprises. — VNS