Business Formation

A shift in Vietnam’s Covid-19 strategy to safe and flexible adaptation to the pandemic was the main factor behind positive economic performance during the month.

Along with drastic measures against the pandemic, Hanoi has been working on measures to facilitate economic recovery.

The growing number of newly established enterprises shows the local economy is firmly on the recovery track, being an attractive destination for businesses.

This is seen as a positive sign for the economy amid the current serious Covid-19 situation that is having negative impacts on enterprises’ operation.

A survey found that 81% of manufacturing and processing enterprises expected stability and even improvements in performance in the first quarter of 2021.

The total number of newly-registered and reinstated enterprises in the eleven-month period reached 165,100, up 0.9% year-on-year, averaging 15,000 per month.

The total number of newly-registered and reinstated enterprises in the ten-month period reached 148,900, down 0.3% year-on-year.

A survey found that 81% of manufacturing and processing enterprises expected stability and even improvements in performance in the final quarter of the year.

The number of newly-established enterprises in Vietnam in the first seven months of 2020 declined by 5.1% year-on-year to 75,200.

The number of newly established enterprises in Vietnam in the first six months of 2020, however, fell 7.3% year-on-year to 62,000.