Number of new firms hit record high in five years hinh anh 1Illustrative photo (Source: VNA)

Hanoi (VNA) – Close to 54,000 enterprises have registered to begin operations in the first five months of 2019, up 3.2 percent on-year, also the highest number recorded in the period in the past five years.

According to the General Statistics Office, the new firms registered 669.7 trillion VND (28.5 billion USD) worth of capital, an annual increase of 29.6 percent. Newly registered capital and funds added to existing projects hit 1.7 quadrillion VND (73.1 billion USD).

Meanwhile, there were 19,600 firms resuming businesses, up 48.1 percent from the same period last year.

The number of temporarily closed companies reached 19,100, while 19,300 others halted their operation.

Vietnam is forecast to grow by 6.8-6.9 percent in 2019 on the back of sound economic performance in 2018, according to the Vietnam Macro-Economic Outlook 2019.

In 2018, the economy expanded by 7.08 percent, one of the highest growth rates in the region and the world, supported by 12.98 percent growth in the manufacturing and processing sector and a 3.76 percent expansion in agriculture since 2012.-VNA