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Home » Vietnam’s Firm Establishment Up 2.3 Pct in 8 Months

Vietnam’s Firm Establishment Up 2.3 Pct in 8 Months

by Jay Akara
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Nearly 103,700 enterprises were estimated to be formed in Vietnam in the first eight months of this year, posting an increase of 2.3 percent year on year, according to the country’s General Statistics Office.

The registered capital of the new enterprises declined 14.7 percent year on year to 969.6 trillion Vietnamese dong (40.4 billion U.S. dollars), said the office.

Compared to the same period last year, the formation of new firms decreased 2 percent in the industry and construction sector, rose 4.2 percent in the services sector, and declined 20.2 percent in the agriculture, forestry and fishery sector.

Between January and August, more than 45,700 firms that previously ceased operations due to difficulties resumed their activities, while around 15,600 firms were estimated to withdraw from the market each month, according to the office.

The number of newly registered firms in 2022 jumped 27.1 percent to around 148,500 from 2021.

Source: Xinhua

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