According to GSO, a total of 36,224 new firms was established in the period. Taking into account enterprises resuming operation, the number reached 59,848.
Also in Q1, nearly 74,000 enterprises ceased operations. The majority of them (72.1%) were temporary suspensions, with over 54,000 expected to resume operation in the future.
A positive sign emerged in March, when the number of newly established businesses and those resuming operation, exceeded that of those temporarily withdrawing from the market.
The GSO report identified small-scale enterprises, which have capital of below 10 billion VND (416,000 USD), as the most common type of businesses exiting the market (nearly 90%). It is also noteworthy that, over 74% of those stopping operation were in the service sector.
To address challenges and stimulate production and business activities, the GSO proposed that, the Government consistently prioritize growth in tandem with ensuring macro-economic stability, controlling inflation and ensuring the major balances of the economy, among others./.
