Vietnam welcomes over 22,000 new firms in two months

Employees at Tan Nhien Co. Ltd in Tay Ninh province.(Photo: VNA)

The figures represented yearly increases of 12.4% in the number of firms and 32.8% in capital, it said.

Sectors recording an increase in the number of new businesses in the two months included the mining industry (29%); warehouse transportation (27%); other service activities (22%) and agro, forestry and fisheries (20%).

During the reviewed period, nearly 18,970 enterprises resumed their operations, rising 4.4% over the same period last year. The latest addition pushed the total number of newly-established businesses and firms resuming operations to 41,097, up 8.5% year on year.

In February alone, however, there were more than 8,590 new enterprises with total registered capital of 67.26 billion VND, down 3% and up 2.5% respectively.

Over 49,270 businesses temporarily suspended operations from January to February, a yearly hike of 27%. However, 44,265 or 89.8% of the total were small-sized with a scale under 10 billion VND.

Meanwhile, 62,977 businesses left the market, up 22.5% year-on-year, and 10,034 firms waited for dissolution procedures, up 6.5% on year. More than 3,670 enterprises completed dissolution procedures, up 14.5%.

Last year, nearly 160,000 new enterprises were set up in the country, up 7.2% year-on-year. This highest-ever figure was 1.2 times higher than the average of the 2017-22 period, surging 4.6% compared to the estimate for the year./.