Number of new businesses increases in VN hinh anh 1Nearly 11,000 new enterprises were established in Vietnam in May (Photo: VNA)

Hanoi (VNA) – Nearly 11,000 new enterprises were established in the country in May with total registered capital of 119.24 trillion VND (5.24 billion USD).

This was a rise of 9.3 percent in the number of enterprises and 17.8 percent in the registered capital compared to the same period last year.

On average, the registered capital of individual businesses increased by 7.9 percent to 10.9 billion VND, according to the Ministry of Planning and Investment’s National Enterprise Information and Registration System.

Totally, in the first five months of this year, the country had 50,534 newly-established enterprises with total capital of 485.6 trillion VND, a year-on-year rise of 12.9 percent in the number of enterprises and of 39 percent in the registered capital.

The five-month increase, however, was lower than that of the same period last year with 24.1 percent rise and 59.3 percent growth in term of enterprise quantity and level of capital, respectively.

Notably, the number of registered labourers for new businesses in the reviewed period saw a modest decline of 2 percent to 521,700, the system reported.

From January to May, the number of newly-established enterprises surged 72.8 percent in property trading sector; 38.9 percent in banking, finance and insurance; 31 percent in education and training sector; 27.3 percent in health-care and social support activities; and 18.4 percent in the sector of accommodation and catering services, in addition to 12.6 percent in construction industry and 11.7 percent in manufacturing and processing industry.

The five-month period also saw some 32,145 enterprises suspending operations, surging 12.5 percent year-on-year while 4,685 enterprises were dissolved in the period, which was 1 percent higher than last year’s corresponding period.-VNA