Number of new businesses increases in VN

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This was a rise of 9.3% in the number of enterprises and 17.8% in the registered capital compared to the same period last year.

On average, the registered capital of individual businesses increased by 7.9% to VND10.9 billion, according to the Ministry of Planning and Investment’s National Enterprise Information and Registration System.

Totally, in the first five months of this year, the country had 50,534 newly-established enterprises with total capital of VND485.6 trillion, a year-on-year rise of 12.9% in the number of enterprises and of 39% in the registered capital.

The five-month increase, however, was lower than that of the same period last year with 24.1% rise and 59.3% growth in term of enterprise quantity and level of capital, respectively.

Notably, the number of registered laborers for new businesses in the reviewed period saw a modest decline of 2% to 521,700, the system reported.

From January to May, the number of newly-established enterprises surged 72.8% in property trading sector; 38.9% in banking, finance and insurance; 31% in education and training sector; 27.3% in health-care and social support activities; and 18.4% in the sector of accommodation and catering services, in addition to 12.6% in construction industry and 11.7% in manufacturing and processing industry.

The five-month period also saw some 32,145 enterprises suspending operations, surging 12.5% year-on-year while 4,685 enterprises were dissolved in the period, which was 1% higher than last year’s corresponding period.-VNA