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Vietnam: New enterprises up 13.8% in 7M

  • Jul 31, 2017

There were 72,953 newly-established enterprises entering the economy in the first seven months of this year with total registered capital of VND690.7 trillion ($30.3 billion), up 13.8 per cent and 39 per cent, respectively, year-on-year, according to the latest report from the Agency for Business Registration at the Ministry of Planning and Investment.

There were 11,677 newly-established enterprises in July, with capital of VND94.54 trillion ($4.15 billion).

Average registered capital per enterprise in the first seven months was VND9.5 billion ($418,000), up 22.2 per cent year-on-year.

The percentage of newly-established enterprises increased in almost all sectors over the same period of 2016. Real estate had 2,706, up 68 per cent, finance, banking, and insurance 812, up 31 per cent, health and social welfare activities 385, up 31 per cent, and education and training 1,886, up 29 per cent. Only the transport sector, with 3,563 enterprises, saw a decline, of 6 per cent.

There were also 17,549 enterprises resuming operations in July after a period of suspension, an increase of 5 per cent year-on-year.  

Meanwhile, 15,866 enterprises suspended operations during the month, up 16 per cent year-on-year, while 27,408 enterprises dissolved, up 21 per cent.

“Enterprises suspending operations or dissolving were mostly small enterprises with capital of less than VND10 billion ($440,000), which accounted for 91.5 per cent,” according to the Agency for Business Registration. Compared to the first seven months of last year, such enterprises increased 19.8 per cent.

The number of workers entering the job market increased in July year-on-year. Those in finance, banking, and insurance totaled 4,801, up 48 per cent, health and social welfare activities 6,469, up 34 per cent, education and training 12,544, up 26 per cent, and consulting services, design, advertising, and other professionals 40,913, up 25 per cent. 

Source: http://vneconomictimes.com/article/business/new-enterprises-up-13-8-in-7m