Business

Nearly 87,500 firms enter market in eight months

Some 87,448 new enterprises were established in the first eight months of the year, registering a total registered capital of 878.6 trillion VND (37.7 billion USD), a year-on-year increase of 2.4 percent in number of firms and 6.9 percent in capital, according to the General Statistics Office (GSO).
Nearly 87,500 firms enter market in eight months ảnh 1Illustrative photo (Photo: VNA)

Hanoi (VNA) – Some 87,448 new enterprises were established in thefirst eight months of the year, registering a total capital of 878.6trillion VND (37.7 billion USD), a year-on-year increase of 2.4 percent innumber of firms and 6.9 percent in capital, according to the General StatisticsOffice (GSO).

In August, the country had 11,655 newly-established firms with total registeredcapital of 107.6 trillion VND (4.62 billion USD), posting a 3.5 percentincrease in number of the companies and a 11.9 percent drop in terms of capitalas compared to the previous month.

The average registered capital of each new firm was calculated at more than 10billion VND (430,000 USD), rising 4.3 percent from the same time last year.

During January-August, there were 20,942 businesses resuming their operations,growing 9.3 percent year on year.

The new firms employed 734,700 workers, falling 10.7 percent from the same timelast year.

By sector, wholesale, retail sale and automobile repair and motorbikeindustries has the most newly formed companies with 29,600, or 33 percent ofthe total new firms. It was followed by construction and processing-manufacturingsectors which saw the participation of 11,500 and 10,900 companies,respectively.

The GSO said that as many as 63,235 businesses ceased their operation during theeight month period, up 38.1 percent year-on-year. The number of enterprisesfulfilling dissolution procedures rose 17.8 percent to 9,135.-VNA



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