As many as 15,419 enterprises nationwide resumed their operation in 2014, up 7.1 percent from a year ago, according to Director General of the General Statistics Office (GSO) Nguyen Bich Lam.

During the year, 74,842 new firms were registered with a total capital of 432.2 trillion VND (20.31 billion USD), representing a year-on-year drop of 2.7 percent in the number of firms but an 8.4 percent rise in capital.

Average registered capital of each new enterprise was 5.8 billion VND, 11.5 percent more than the figure in 2013, said Lam.

The new firms were set to employ 1.09 million labourers, up 2.8 percent from 2013.

In the year, 67,823 firms were, however, dissolved, mostly small-sized, he noted.

Pham Dinh Thuy from the GSO’s Industry Statistics Department attributed the situation to the firms’ small investment capital, poor governance, and weak competitiveness.

According to the GSO Director General, enterprises should improve their productivity by applying advanced technology to generate high value products winning consumers, especially local ones.-VNA