Business

More than 11,000 new firms established in May

A total of 11,027 businesses with combined registered capital of 104.8 trillion VND (4.61 billion USD) were established in May, according to the Business Registration Management Department under the Ministry of Industry and Trade.
More than 11,000 new firms established in May ảnh 1Illustrative photo (Source: VNA)

Hanoi (VNA) – A total of 11,027 businesses with combined registered capital of104.8 trillion VND (4.61 billion USD) were established in May, according to theBusiness Registration Management Department under the Ministry of Industry andTrade.

Thefigures represent decreases of 24 percent in number and 21.5 percent in capitalas compared with the previous month.  

The average capital ofan enterprise reached 9.5 billion VND, a month-on-month surge of 3.3 percent.

Thesefirms signed up to recruit 80,500 workers, down 24.5 percent against the monthbefore.

InMay, 2,306 businesses resumed operations, down 29.7 percent, and 6,855 enterprisestemporarily stopped operations, up 11.7 percent. Meanwhile, 834 others completedissolution procedures, down 39.5 percent month-on-month.

The number of newly-establishedenterprises in the first five months rose by 3.5 percent year-on-year to52,322 units, with total registered capital of 516.9 trillion VND (22.77billion USD).

The capital increased by6.4 percent compared to the same period last year due to improving businessconditions and registration procedure, the department said.

The average capital foran enterprise was 9.9 billion VND (435,600 USD), a year-on-year rise of 2.8 percent.

New enterprises havefocused on sectors such as wholesale and retail, repair of cars andmotorcycles, processing and manufacturing as well as construction.

Twelve sectors saw anincrease in newly established enterprises in the first five months. The realestate trading sector had the highest growth in the number of new enterprisesat 41.1 percent. The sector also saw the highest development in registeredcapital of new firms, accounting for some 29 percent of the total registeredcapital.

Sectors such aselectricity production and distribution, real estate trading, finance-bankingand mining led in terms of average registered capital per enterprise.

Meanwhile, in the firstfive months of this year, 13,267 enterprises resumed operations, a year-on-yearreduction of 1.4 percent, while 15,974 enterprises temporarily stopped theiroperations, a year-on-year increase of 24 percent.-VNA
VNA
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