Newly-established enterprises plummet in April
10:54 | 04/05/2020

VGP – Over 7,880 enterprises were founded in April with a total registered  capital of VND 93.9 trillion, down 46.9% in number and 43.8% in value in comparison with the same period last year, the General Statistics Office (GSO) reported. 

In the fourth month, 3,810 enterprises resumed operation, representing a month-on-month increase of 11.3% and a year-on-year growth of 40.4%. The positive outcomes signaled that a part of businesses have re-ignited operation and seized opportunities when Covid-19 outbreak is put under control. 

In the January-April period, Viet Nam witnessed 37,600 newly-established firms with a total registery capital of VND 445.2 trillion and 315,700 jobs, down 13.2% in number, 17.9% in value, and 28.7% in labor recruitment in comparison with the same period last year, respectively.

Meanwhile, 11,700 enterprises expanded operation by pouring in VND 680 trillion, bringing the total amount of capital to VND 1,126 trillion to the domestic economy, down 20.4% against the same period last year. 

Up to 17,800 enterprises resumed operation, representing a year-on-year increase of 2.1%, raising the total number of newly-established and resumed enterprises to 55,400 in the first four months. 

In the January-April period, 558 agro-forestry-fishery enterprises were founded, down 6.2% against the same period last year. Up to 10,500 industrial and construction firms were established, down 10.7%. About 26,500 service businesses came out, down 14.3%. 

In the reviewed period, 22,700 enterprises temporarily suspended operation, representing a year-on-year growth of 33.6%. About 14,000 enterprises were suspended and dissolved.

GSO Deputy Director Pham Quang Vinh was quoted as saying that the Covid-19 outbreak has caused heavy impacts on business production, especially employment market dipped to a 10-year low./.  

By Kim Loan 

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