Newly-established, re-operating enterprises up over 33% in 11 months

Vietnam saw nearly 194,700 newly established and re-operating enterprises in the first 11 months of 2022, up 33.2% over the same period in 2021, a 1.3 times higher than the average rate in January – November period from 2017 - 2021, according to the Business Registration Agency under the Ministry of Planning and Investment (MPI).

Illustrative image (Photo: VNA)

In November alone, the country counted 11,943 new enterprises with a total registered capital of 104.49 trillion VND (over 4.27 billion USD) and 73,988 labourers.

The figures represented a 0.3% increase in the number of firms, and decreases of 30.3% in capital and 3.4% in workforce compared with the same period last year.

Meanwhile, as many as 6,267 enterprises resumed their operation in the month, up 26.4% year-on-year.

On the opposite side,  there were 132,339 enterprises withdrawing from the market in the last 11 months, an increase of 24.3% year-on-year.

A total of 70,220 enterprises temporarily ceased operations, a yearly hike of 34.8%.  Another 45,271 were in the dissolution process, and 16,848 completed dissolution procedures, year-on-year rises of 14.7% and 13.3%, respectively.

The agency said the total registered capital of enterprises tends to decrease, and the average amount of registered capital of newly-established firms is expected not to rise in the remaining months of this year.

In January – November, the total registered capital added to the economy rose by 21.5% over the same period in 2021, it noted.

To support businesses, General Director of the General Statistics Office (GSO) Nguyen Thi Huong urged ministries and sectors to ensure adequate supply of raw materials and energy to meet the demand for production and business recovery and socio-economic development; and work hard to remove difficulties and obstacles for important industrial projects.

She also underlined the need to strengthen support for export enterprises to effectively respond to trade remedies, saying that the work plays an important role in maintaining and expanding Vietnam’s export markets./.

VNA

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