Econ
Vietnam sees 11,262 new enterprises established in July
The rise in the number of business formations demonstrates that investors are likely to have gained more confidence in the domestic business climate.
As many as 11,262 new enterprises have been set up in July this year with a total registered capital of over VND122 trillion (US$5.246 billion), down 7.8% in number of enterprises and down 7.6% in registered capital compared to the previous month, the Department of Management of Business Registration under the Ministry of Planning and Investment announced.
The capital registered by a new firm averaged VND10.8 billion (US$464,400), up 0.2%, according to the General Statistics Office (GSO).
In the January-July period, there were 75,793 newly-registered enterprises with total registered capital of VND771.1 trillion, up 3.9% in number of enterprises and 11.6% in registered capital year-on-year, the GSO reported.
The country's Southeast region continued leading the country in the number of newly-established enterprises, the GSO said.
The number of employees registered to work for these new businesses in the seven-month period fell by 13.5% year-on-year to about 623,500, the GSO added.
The GSO also reported that 18,696 companies resumed operations between January and July, up 6.5% from the same period last year and 59,910 firms temporarily suspended operations in January-July, up 38.4% year-on-year.
Most of the new companies belong to sectors such as wholesale and retail, car and motorcycle repair and maintenance services, construction, manufacturing and processing.
According to experts, the rise in the number of newly-established firms and registered capital shows that investors are likely to have gained more confidence in the domestic business climate thanks to the government’s efforts to improve the legal framework on business and investment and remove barriers for enterprises.
To further motivate the development of enterprises, the concerned agencies from the central to local levels should be more active in improving the business climate, removing barriers to create favorable conditions for enterprises, experts said.
Vietnam sees 11,262 new enterprises established in July
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In the January-July period, there were 75,793 newly-registered enterprises with total registered capital of VND771.1 trillion, up 3.9% in number of enterprises and 11.6% in registered capital year-on-year, the GSO reported.
The country's Southeast region continued leading the country in the number of newly-established enterprises, the GSO said.
The number of employees registered to work for these new businesses in the seven-month period fell by 13.5% year-on-year to about 623,500, the GSO added.
The GSO also reported that 18,696 companies resumed operations between January and July, up 6.5% from the same period last year and 59,910 firms temporarily suspended operations in January-July, up 38.4% year-on-year.
Most of the new companies belong to sectors such as wholesale and retail, car and motorcycle repair and maintenance services, construction, manufacturing and processing.
According to experts, the rise in the number of newly-established firms and registered capital shows that investors are likely to have gained more confidence in the domestic business climate thanks to the government’s efforts to improve the legal framework on business and investment and remove barriers for enterprises.
To further motivate the development of enterprises, the concerned agencies from the central to local levels should be more active in improving the business climate, removing barriers to create favorable conditions for enterprises, experts said.
