Vietnam’s Jan-Oct business formations up 4.4% to 114,400

If including VND1,893.4 trillion (US$81.82 billion) of additionally registered capital of the enterprises, the total capital injected into the economy between January and October was VND3,327.8 trillion (US$143.79 billion).

In the first ten months of 2019, Vietnam has seen a total of 114,400 newly-established enterprises with registered capital of a combined VND1,434.4 trillion (US$62 billion), according to the General Statistics Office (GSO).

This resulted in an increase of 4.4% in number of enterprises and 28.5% rise in registered capital compared with the same period in 2018.

Average registered capital per newly-established enterprise reached VND12.5 billion (US$540,000), up 23.1% year-on-year. If including VND1,893.4 trillion (US$81.82 billion) of additionally registered capital of the enterprises, the total capital injected into the economy in the ten months of 2019 was VND3,327.8 trillion (US$143.79 billion). 

 

Data: GSO. Graphic: Ngoc Thuy.

Most of the newly-established enterprises are in the fields of wholesale, retail sale, automobile repair with 37,400 enterprises (accounting for 32.7%), down 1.8% year-on-year; manufacturing and processing with 14,450 (12.6%), up 6.8%; construction with 14,410 (12.6%), up 2%; science, technology, consultancy, design, advertising and others with 9,600 (8.4%), up 15.1%, among others.

Besides, there were 34,900 enterprises resuming operation, a rise of 24.8% over the similar period last year, bringing the total number of newly registered and revived enterprises in the ten-month period to over 149,300.

The total number of registered laborers of newborn enterprises between January and October was 1.02 million, an increase of 10.8% against the same period last year, according to the office.

Meanwhile, the number of enterprises temporarily ceasing operation in the period was 26,300, up 7.6% inter-annually, while 34,500 enterprises suspended operation and waited for dissolution.

The number of enterprises which finished the procedure for dissolution in the first ten months of this year was 13,500, a year on year increase of 1.3%.