Monday, 18 Feb 2019
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ECONOMY

Vietnam's business formations down 7% in January

Updated at Tuesday, 29 Jan 2019, 17:11
The Hanoitimes - Up to 8,465 enterprises have resumed operation in January, a rise of 84.5% over the similar period last year, bringing the total number of newly registered and revived enterprises in January to over 18,500.
In January, Vietnam has seen a total of 10,079 enterprises registered for new establishment with registered capital of a combined VND151.1 trillion (US$6.53 billion), according to the General Statistics Office (GSO).
 
Illustrative photo.
Illustrative photo.
This resulted in a decline of 7% in the number of enterprise and 53.8% rise in the registered capital compared with the same period in 2018.

Average registered capital per newly established enterprise reached VND15 billion (US$648,255), up 64.8% year-on-year. If including VND484 trillion (US$20.91 billion) of additional capital of the enterprises which raised their capital base, the total registered capital pumped into the economy in January was VND635.1 trillion (US$27.44 billion). 

Most of newly established enterprises are in the fields of wholesale, retail sale, with 3,800 enterprises (accounting for 37.7% of the total), down 0.3% year-on-year; construction with nearly 1,300 enterprises (12.4%), down 9%; manufacturing and processing 1,300 (13%), down 1%; science, technology, consulting, design, advertising and others with 790 (7.8%), down 1.1%, among others.

Besides, 8,465 enterprises have resumed operation, a rise of 84.5% over the similar period of 2018, bringing the total number of newly registered and revived enterprises in January to over 18,500.

Total number of registered laborers of newly established enterprises in January was 107,900, an increase of 26.5% against the same period last year, according to the office.

The number of enterprises temporarily ceasing operation in January was 10,804, an increase of 25.3% against the comparable period of 2018, while the number of enterprises which finished the procedure for dissolution in January was 1,802, an increase of 16% from the same period last year. 
Ngoc Mai
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