Illustrative image. (Photo: VNA)

Hanoi (VNA) – Vietnam saw declines in the number of newly-established companies and those resuming operation in November, said the General Statistics Office.

A total of 11,637 new enterprises were registered this month with total capital of 118.4 trillion VND (5.09 billion USD), down 10.5 percent and 22 percent, respectively, from the previous month. More than 3,400 others resumed operation, a month-on-month decrease of 1.4 percent.

The number of dissolved firms was 1,554 while 6.353 companies halted operations during the month.

In the first 11 months of 2018, more than 121,200 businesses were set up with 1.2 quadrillion VND worth of newly registered capital and 2.2 quadrillion VND worth of additional capital.

Close to 31,870 firms resumed operation in the January – November period, up 30.9 percent from the same period last year. These firms operational again brought up the economy’s total number of company to 153,100.

However, the number of firms suspending and dissolving operation rose alarmingly during the period, up 49.3 percent and 37.4 percent to over 83,100 and 14,800, respectively. Most of the dissolved companies were those with capital of below 10 billion VND. –VNA