Newly established enterprises rise 9.1%

VGP - In the first two months of 2020, Viet Nam has seen a total of 17,400 enterprises set up with total registered capital of VND220 trillion (US$9.52 billion), up 9.1% in number and down 11.1% in registered capital year-on-year, according to the General Statistics Office.

March 04, 2020 6:04 PM GMT+7

In the first two months of 2020, Viet Nam has seen a total of 17,400 enterprises set up with registered capital of a combined VND220 trillion (US$9.52 billion), up 9.1% in number

Total capital added to the economy by companies between January and February was VND641 trillion (US$27.75 billion).

These newly established enterprises registered a total investment capital of VND220 trillion (US$9.5 billion), down 11.1%, and a total number of workers of 157,500, down 3.9% over the same period last year.

The average registered capital per enterprise was VND12.6 billion (US$545,400), a decrease of 18.5% over the same period last year.

Most of the newly-established enterprises are in the fields of wholesale, retail, automobile repair with 5,738 enterprises, up 9% year-on-year.

Those in the construction sector totaled 2,227, up 11.3%; the manufacturing and processing with 2,179, up 5%; science, technology, consultancy, design, advertising and others with 1,609, up 26.3%, among others.

During the two-month period, 5,700 operating enterprises expanded their investment capital by a total VND421 trillion (US$18.2 billion), raising the total investment capital into the economy to VND641 trillion (US$27.7 billion) in the first two months of the year, down 26.2% over the same period last year.

Besides, 11,900 enterprises resumed operation, a rise of 17.1% against the similar period last year, bringing the total number of newly-registered and revived enterprises in the two-month period to nearly 29,400.

Several areas saw increasing numbers of new enterprises including wholesale, retail, automobile and motorcycle repair, construction, and the processing and manufacturing industry.

The number of enterprises temporarily ceasing operation in the period was 16,200, up 19.5% year-on-year. Moreover, the number of enterprises which finished the procedures for bankruptcy in the period was 2,800, down 11.1% from the same period last year, of which 2,500 enterprises had capital base of less than VND10 billion (US$429,380), down 13.4%.

However, in the first two months of this year, 16,200 enterprises temporarily suspended their operation, up 19.5% over the same period last year, 9,400 enterprises ceased operation to wait for dissolution procedures, down 31.4%, and 2,800 enterprises completed dissolution procedures, down 11.1%.

In February, the number of newly-established enterprises reached 9,163, with registered capital of VND96.8 trillion (US$4.19 billion), representing an increase of 10.7% in the number of enterprises and a decline of 21.4% in registered capital month-on-month./.

By Vien Nhu