More firms established, resuming operation in October

Noticeable increases in the number of enterprises that were newly established or restarted operation were recorded in October in comparison to September, signaling a recovering post-pandemic market, an office has said.

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According to the Agency for Business Registration under the Ministry of Planning and Investment, 12,205 new firms entered the market last month, up 18.4 percent from September and 0.2 percent from the same period last year.

Meanwhile, October saw 5,044 companies resume their businesses, mostly in retail sale, automobile repair, construction, processing-manufacturing industry, realty and tourism. The figure is 10.4 percent higher than that of the previous month.

In the first 10 months of this year, Vietnam had 111,160 new firms, a mere annual decrease of 2.9 percent.

The period also recorded a 14.4 percent on-year increase in the average registered capital per enterprise which was 14.3 billion VND (617,070 USD). This meant the scale of new firms has been expanded.

Also in the period, existing companies added 3.89 quadrillion VND to their capital, up 17 percent from last year, reflecting their confidence in the country’ post-pandemic recovery.

On the other hand, 85,541 firms withdrew from the market in the 10 months, increasing 58.7 percent year on year. Of them, 41,783 registered for a limited shutdown.

The agency said such figures demonstrated a prolonged and heavy impact of COVID-19 on business and production./.

VNA