Number of new firms surges in 2015

tohang

More than 77,500 new enterprises were registered in the first 10 months of 2015, a 29.2 per cent year-on-year increase, the Minisstry of planning and investment (MPI) said.

More than 77,500 new enterprises were registered in the first 10 months of 2015, a 29.2 per cent year-on-year increase, according to MPI. Photo tinnhanhchungkhoan,vn

HA NOI (Biz Hub) — More than 77,500 new enterprises were registered in the first 10 months of 2015, a 29.2 per cent year-on-year increase, the Minisstry of planning and investment (MPI) said.

MPI said the total registered capital in the 10-month period was VND486.09 trillion (US$ 21.63 billion), 37.9 per cent higher than the same period in 2014.

In addition to the expansion capital of VND737.81trillion ($32.83 billion), more than VND1,200 trillion ($54.4 billion) has been added to the local economy.

The average registered capital per enterprise also rose by 6.7 per cent to reach VND6.3 billion ($280,373) in the first 10 months of this year. These enterprises also created about 1.15 million new jobs, an increase of 31 per cent over the same period in 2014, MPI said.

The ministry said the establishment of new firms in the first 10 months of 2015 increased in all sectors of the economy, such as by 87 per cent in entertainment, 86.8 per cent in real estate and 36.1 per cent in construction, compared with the same period in 2014.

In October, nearly 9,200 firms with a registered capital of nearly VND65.200 trillion (US$2.89 billion) were set up, marking a 30.6 per cent rise in number and 46.4 per cent increase in capital, when compared with the previous month.

About 157,900 jobs were created in October, 25.4 per cent higher than in September.

The gradual recovery of the country's economy and easier business establishment procedures were the two reasons that have led to the increase in the establishment of new firms, the ministry said.

More than 7,600 companies have been dissolved or have ceased operations so far this year, 1.2 per cent lower than last year, MPI said.

Most of the dissolved businesses were small in scale, with a charter capital of less than VND10 billion ($445,037) each.

However, the number of firms that resumed operations reached 16,198 firms in the 10-month period, a 24.6 per cent increase over the same period in 2014, MPI said. —VNS.

  • Share:

see also

Việt Nam among Asias 15 largest economies

Việt Nam among Asia’s 15 largest economies

The statistical visualisation platform Seasia Stats recently ranked Việt Nam among the top 15 economies in Asia, with projected economic output reaching some US$506 billion in 2025.
Thailand remains Việt Nams biggest trading partner in ASEAN

Thailand remains Việt Nam’s biggest trading partner in ASEAN

Activities by the Việt Nam Trade Office in Thailand in 2024 have strengthened trade ties, helping Thailand remain Việt Nam’s largest ASEAN trading partner, said Trade Counsellor Lê Hữu Phúc.
Cashew industry has high exports but still lacks raw materials

Cashew industry has high exports but still lacks raw materials

The cashew industry had to spend more than $3 billion to import raw cashew nuts for processing export products in the first 11 months, in order to gain an export revenue of $3.98 billion.
Việt Nam urged to balance trade relations with the US

Việt Nam urged to balance trade relations with the US

Việt Nam now ranks third among countries, with the largest trade surplus with the US, after only China and Mexico. Strong export growth to the US is recorded through items such as wooden furniture, machinery, optical equipment, medical measurement, office machines, printers, hand tools and hydraulic...
Vietnamese tourists prefer domestic travel

Vietnamese tourists prefer domestic travel

Domestic travel remains a key driver of tourism recovery in Việt Nam. A significant 49 per cent of travellers prefer exploring domestic destinations, while 31 per cent prefer to travel abroad.