Over 60,000 Vietnamese businesses close in 2014
Over 60,000 Vietnamese businesses close in 2014
As reported by the Ministry of Planning and Investment (MoPI), during the period between January and November, Vietnam had 67,790 new businesses, with a total registered capital of VND391.3 trillion, down 4.5% in the number and 8.9% of the registered capital compared with the same period last year.
The average registered capital per a newly established firm is VND5.8 billion, up 14% compared to the same period in 2013. The estimated number of employees of these new businesses is 992,000, up 1.9% year on year.
According to the Ministry, in terms of capital, the number of new businesses established this year is higher than that of the same period of 2013. This suggests that the environmental business has improved, creating confidence for the business community.
Also, during this period 60,340 companies were dissolved or suspended, up 9.8% compared to the same period last year. Specifically, 8,661 firms completed dissolution procedures; 10,147 others registered for temporary suspension; and 41,532 were suspended to wait for business codes, or did not register. This shows that the business community is still in a difficult period.
Also, 14,208 businesses resumed operation during this time, up 11.8% year on year. This is a good sign for the economy.
