Number of newly-established businesses set new record

Illustration photo

The GSO said that registered capital of a newly-founded enterprise averaged VND 9.8 billion, up 24.3%. The economy absorbed VND 2.7 billion of capital from newly-founded enterprises and those with additional capital.

Meanwhile, 24,349 enterprises resumed operation, representing a year-on-year decline of 0.9%. The total number of newly-founded enterprises and resumed businesses was 140,400. In January-November, the newly founded enterprises generated over 1.06 million jobs, a year-on-year decline of 8%. 

Noticeably, in 11 months, 41,600 newly-founded enterprises operated in the wholesale and retail sectors (occupying 35.9% of total number); up 15.7% against the same period last year; 14,800 others in processing and manufacturing (making up 12.8%); up 8.3%; 14,700 in construction (holding 12.7%); up 9.1%; 8,700 others in science and technology; 6,200 others in employment and tourism services. 

In the reviewed period, 10,814 enterprises were dissolved, representing a year-on-year growth of 3.3% of which 9,905 had a scale of under VND 10 billion (or 91.6%). 

Up to 55,664 enterprises temporarily suspended operation, up 3% against the same period last year, including 20,821 which declared temporary operation in a time limit. 

In November, 1,338 businesses resumed operation, representing a month-on-month growth of 0.7% and 5,314 others temporarily suspended operation. 

Earlier, in 2016, Viet Nam witnessed the record number of newly-established enterprises with 110,100. It was the first time Viet Nam had over 100,000 newly-established enterprises in a year. The vigorous business start-up spirit was attributed to the positive outcomes.

According to Resolution 35/NQ-CP, by 2020, Viet Nam will have at least 1 million businesses. Thanks to the growth of the business start-up movement, in 2017, Viet Nam will have over 100,000 newly founded businesses./. 

By Khanh Phuong