Number of new businesses jumps in first half of 2017
Number of new businesses jumps in first half of 2017
Nearly 61,300 new enterprises were formed in the country in the first half of this year with total registered capital of more than VND596 trillion (US$26.2 billion).
The figures showed a rise of 12.4 per cent in the number of enterprises and 39.4 per cent in registered capital compared to the same period last year, according to the General Statistics Office (GSO).
However, 10,742 firms were set up in June alone, with total registered capital of VND110.5 trillion ($4.86 billion), marking year-on-year reductions of 2 per cent in the number of enterprises and 7.3 per cent in registered capital.
On average, the registered capital of individual business rose by 24.3 per cent to VND9.7 billion, GSO noted.
The number of businesses in the wholesale and retail sector, which made up 35 per cent of the total number of newly-established firms in the six month period, increased 10.5 per cent year-on-year. Enterprises in construction and manufacturing and processing industries saw yearly rises of 10.7 per cent and 9.7 per cent, respectively.
From January to June, over 37,900 enterprises suspended operations, surging 22 per cent year-on-year, while 4,685 enterprises were dissolved in the period, which was 1 per cent higher than last year’s corresponding period.
The period also saw 15,400 businesses resume operations, up 3.2 per cent.
A separate survey by GSO revealed that 43 per cent of processing and manufacturing firms said their business results were better in the second quarter compared to same period last year. Over 19.2 per cent said they encountered business difficulties while 37.8 per cent reported stable business performance.
