Businesses sprout up in October

Businesses sprout up in October

The GSO said the 12,182 new enterprises had total registered capital of VND143.6 trillion (US$6.19 billion), up 2.5 per cent over September. The enterprises employed 94,700 workers.

The average registered capital of a new enterprise in the month reached VND11.8 billion ($509,188), down 0.9 per cent from the previous month and rising 0.5 per cent over the same period last year.

There were 7,247 enterprises resuming operation, three times higher than the previous month and up 109.9 per cent over the same period last year.

At the same time, 2,086 enterprises suspended their business, up 37 per cent from September and 9 per cent from the same term last year.

GSO data also revealed that the number of enterprises that stopped operating and were awaiting dissolution procedures also increased sharply in October. The total number was 5,012, up 84.5 per cent from September and 98 per cent from last year.

In the first 10 months of 2019, the country saw 114,400 newly registered enterprises with total registered capital of more than VND1,434 trillion ($61.8 billion), employing more than 1 million workers, an increase of 4.4 per cent in the number of enterprises, 28.5 per cent in registered capital and 11 per cent in the number of employees over the same period last year, respectively.

The average registered capital of a newly established enterprise in the 10 months reached VND12.5 billion ($539,283), up 23.1 per cent over the same period last year. Calculating the additional VND1.9 quadrillion ($81.6 billion) registered capital of 33,000 existing enterprises, total registered capital added to the economy in the first 10 months of 2019 was VND3.3 quadrillion ($143.5 billion).

In the first 10 months, there were about 35,000 enterprises resuming operations, an increase of 25 per cent over the same period in 2018.

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