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Vietnam's firm establishment up 30.4 pct in 11 months

Dec 03, 2022

Hanoi [Vietnam], December 3: Approximately 137,800 enterprises were estimated to be formed in Vietnam in the first 11 months of this year, posting an increase of 30.4 percent year on year, according to the country's General Statistics Office on Friday.
Registered capital of the new enterprises rose 2 percent on year to roughly 1,483.7 trillion Vietnamese dong (62.7 billion U.S. dollars), said the office.
Compared to the same period last year, the formation of new firms rose 19.6 percent in the industry and construction sector, 35.2 percent in the services sector, and increased 0.3 percent in the agriculture, forestry and fishery sector.
Between January and November, over 56,900 firms which previously ceased operations resumed their activities, surging 40.5 percent on year. However, in the same period, around 12,000 firms were estimated to withdraw from the market each month, according to the office.
Last year, Vietnam saw 116,800 enterprises established with total registered capital of over 1,611 trillion Vietnamese dong (68 billion dollars), down 13.4 percent in quantity and 27.9 percent in capital against 2020.
Source: Xinhua