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Business start-ups

Oct 21st at 13:31
21-10-2013 13:31:36+07:00

Business start-ups

The service sector has seen the largest number of businesses being incorporated in HCM City in the first half of the year.

In the period, 11,900 firms were established, 76.4 per cent of them in the service sector. Those providing food- and drink-related services account for the largest number.

Companies in manufacturing and construction made up another 23.2 per cent of the start-ups.

There were in all 477 private business, 1,200 joint-stock companies, and 10,100 limited liability companies with a combined registered capital of VND55.2 trillion ($2.62 billion).

Many entrepreneurs choose the service industry to improve their situation after struggling for long with difficulties, even bankruptcy, since the sector requires less investment than most other sectors.

Besides, many companies hit hard by the economic downturn and with little resources left have also shifted to the service industry.

Figures from the municipal Department of Planning and Investment show that 8,300 firms suspended operation in the period and over 1,110 closed down.

vietnamnews

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