Business

Number of newly-established firms sets record high

The number of newly-established firms hit a record high of 110,100 in 2016, up 16.2 percent from 2015, according to the Business Registration Management Agency under the Ministry of Planning and Investment.
Number of newly-established firms sets record high ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) - The number ofnewly-established firms hit a record high of 110,100 in 2016, up 16.2 percentfrom 2015, according to the Business Registration Management Agency under theMinistry of Planning and Investment.

The new enterprises have combined registeredcapital of 891 trillion VND (39.2 billion USD), a year-on-year increase of 48.1percent.

The number of businesses resumed operations thisyear reached 26,689, up 43.1 percent from 2015.

Deputy Minister of Planning and Investment DangHuy Dong said the figures reflect the recent growth of Vietnamese enterprisesand improvements in the investment climate, creating an impetus for thecountry’s economic development in the period of international integration.

The newly-established firms create jobs fornearly 1.3 million workers. Most of them operate in real estate, health careand social assistance, and education and training.

Hanoi and Ho Chi Minh City saw the highestnumbers of new businesses, with 36,442 and 22,663, respectively, accounting for53.7 percent of the total figure. They are followed by Binh Duong, Da Nang,Dong Nai, Hai Phong and Khanh Hoa.

The increasing trend was fueled by the InvestmentLaw and the Enterprise Law 2014, which speculates a business registration periodof no more than three days.-VNA
VNA
#newly-established firms #business registration #registered capital
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