New firms up 70.4 percent in Q4

Hanoi (VNA) – The number of newly-established firms in the last quarter of this year reached 31,400 with total registered capital amounting to 415.3 trillion VND (18.21 billion USD), the General Statistics Office (GSO) has said.

The figures represent increases of 70.4 percent in the number of firms and 64.1 percent in capital as compared with the previous quarter.

The office attributed the rise to effects of the Government’s Resolution 128/NQ-CP dated October 11, 2021 on safe and flexible adaptation to and effective control of the COVID-19 pandemic, which has helped to restore production, promote the market and consolidate confidence of businesses.

The country counted 116,800 new firms in the year with combined investments of over 1.6 quadrillion VND and nearly 854,000 labourers, down 13.4 percent in enterprises, 27.9 percent in capital and 18.1 percent in workforce.

The average capital of new enterprises in 2021 was 13.8 billion VND, down 16.8 percent from a year earlier.

In 2021, the number of enterprises returning to business was 43,100, down 2.2 percent year on year.

On the opposite side, nearly 55,000 enterprises were forced to suspend their operations temporarily, up 18 percent against the previous year due to the impacts of COVID-19.

Another 48,100 halted their operations or are awaiting the completion of dissolution procedures, a year-on-year rise of 27.8 percent.

According to a GSO survey of the manufacturing sector’s business situation in the fourth quarter, 44 percent of enterprises saw a better situation than the July-September period.

Nearly one in four (24.9 percent) said they faced difficulties, while the remaining 31.1 percent reported a stable production and business situation./.