Illustrative image (Source: VNA)

 Hanoi (VNA) - Nearly 18,703 new enterprises were formed in Vietnam in the first two months of this year, with a total registered capital of more than 197.3 trillion VND (8.66 billion USD).

According to the Ministry of Planning and Investment, there has been a rise of 29.4 percent in the number of enterprises and 29.3 percent in registered capital compared to the same period last year.

In February alone, the country had 7,864 newly-established firms, with a total registered capital of 99 trillion VND (4.3 million USD), posting 44 percent and 59 percent year-on-year increases in terms of the number of companies and registered capital, respectively.

The average registered capital of each firm was 12.6 billion VND (554,000 USD) last month, increasing 10.5 percent from the same period last year.

The number of labourers in newly-established enterprises in February was 71,120, posting a 13.8 percent year-on-year increase.

However, the number of new firms in February was reduced by 27.4 percent compared to January due to the eight-day Tet (Vietnamese Lunar New Year) holiday.

More than 2,300 companies resumed their operations in February. While some 2,677 companies halted their operations or were awaiting dissolvement, 975 others completed the dissolvement procedures.

The average registered capital of each firm was 10.5 billion VND (462,000 USD) in the two-month period, reducing 0.1 percent from the corresponding period last year.

The number of labourers in new enterprises in the first two months of the year was 156,410, down 6.1 percent from the same period last year.

More than 6,800 enterprises resumed their operations in the two-month period, representing a 13.8 percent year-on-year decrease.

The number of businesses that halted their operations in the first two months of the year rose by 29 percent to 11,191.

The new firms mostly focused on sectors such as wholesale, retail, repairing, automobile, construction, manufacturing, processing and consultancy.- VNA