Business booming as start-ups soar

Business booming as start-ups soar

The number of enterprises established in the first five months of this year increased 4.8 per cent to reach 31,009, according to the Department of Business Registration Management.

Bui Anh Tuan, the department's Deputy Director, said that for the first time, this number was up from the previous year. In the three-month and four-month periods, the numbers were 14 per cent and 1.2 per cent lower than 2012.

Southern Tra Vinh, Dong Thap and Binh Dinh provinces saw the most newly-founded enterprises in the five-month period, with rates of 188 per cent, 90.9 per cent and 78.5 per cent respectively.

Sectors which experienced high increasing rates saw fewer enterprises founded, such as financial, banking and insurance (down 6.8 per cent), construction (down 7.1 per cent) and real estate business (down 14.3 per cent).

Fewer enterprises were dissolved in May, with only 570, a reduction of 27.1 per cent over last month. About 3,020 enterprises halted operations, 15.4 per cent and 13.5 per cent lower than last month and last year.

These figures show that while the business climate is improving, difficulties continue for enterprises.

Tuan pointed out that the number of enterprises that temporarily halted construction in the five-month period still experienced a 13 per cent increase. However, this was still good news, as it indicated a steady decline from the 26.1 per cent increase of the three-month period and 16.9 per cent increase of the four-month period.

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