Nov 30, 2019 / 13:40

Vietnam's business formations rise 4.5% to 126,700 in Jan-Nov

The Hanoitimes - If including VND2,101.3 trillion (US$90.85 billion) of additionally capital pumped by operational enterprises, total registered capital added to the economy in Jan-Nov was VND3,675.7 trillion (US$158.92 billion).

In the first eleven months of 2019, Vietnam has seen a total of 126,700 enterprises set up with registered capital of a combined VND1,574.4 trillion (US$68.07 billion), up 4.5% in number and 27.5% in registered capital year-on-year, according to the General Statistics Office. 

 Data: GSO. Chart: Nguyen Tung. 

Average registered capital per newly-established enterprise reached VND12.4 billion (US$536,126) during this period compared to the past few years, up 22% year-on-year, indicating better health of local companies entering the market. 

If including VND2,101.3 trillion (US$90.85 billion) of additionally capital pumped by operational enterprises, total registered capital added to the economy between January and November was VND3,675.7 trillion (US$158.92 billion). 

Most of the newly-established enterprises are in the fields of wholesale, retail, automobile repair with 41,600 enterprises, down 2.3% year-on-year. Those in the manufacturing and processing totaled 16,000, up 6.8%; construction sector 15,800, up 1.7%; science, technology, consultancy, design, advertising and others 10,600, up 14.4%, among others.

Besides, 36,900 enterprises resumed operation, a rise of 15.7% against the similar period last year, bringing the total number of newly-registered and revived enterprises in the eleven-month period to nearly 163,600.

Total number of laborers of newly-established enterprises in the January – November period was 1,137,100, an increase of 11.8% against the same period last year, according to the government-run agency.

The number of enterprises temporarily ceasing operation in the period was 27,800, up 7.1% year-on-year. Moreover, the number of enterprises which finished the procedures for bankruptcy in the period was 15,000, an increase of 0.8% from the same period last year, of which there were 13,500 enterprises with capital base of less than VND10 billion (US$429,380), down 0.4%.

In November, the number of newly-established enterprises reached 12,265, with registered capital of VND139.9 trillion (US$6.04 billion), representing an increase of 0.7% in the number of enterprises and a decline of 2.5% in registered capital month-on-month.