Over 85,500 firms leave market in 8 months

Localities quickly deploy COVID-19 vaccination campaigns (Photo: VietnamPlus)

Hanoi (VNA) - Some 85,500 firms left the market in the first eight months of this year, while more than 81,000 enterprises registered for establishment with total registered capital of 1.13 quadrillion VND, according to the General Statistics Office (GSO).

Among those leaving the market, 43,200 firms temporarily suspended operations for a definite period, a year-on-year increase of 29.5 percent, while 30,100 enterprises stopped operation pending dissolution procedures, up 24.5 percent, and 12,200 completed dissolution procedures, up 17.8 percent.

Ho Chi Minh City, the largest hotspot of COVID-19 at present, saw 24,000 enterprises leave the market in the period, accounting for 28.1 percent of the country's total. 

The GSO said the strong resurgence of COVID-19 in southern localities along with successive periods of social distancing has seriously affected the operation of enterprises.

The number of newly-established enterprises in the eight-month period dropped 8 percent and their total registered capital decreased by 7.5 percent. 

The average registered capital of a newly-established enterprise was estimated at 13.9 billion VND, up 0.5 percent compared to the same period last year.

In August alone, the number of newly-established enterprises was 5,761 with registered capital totalling 68 trillion VND  (2.9 billion USD), down 34.1 percent in the number of businesses and 44.6 percent of capital over July. Meanwhile, 3,865 firms resumed operation, down 21.9 percent from July and 6,441 left the market, down34.9 percent month on month./.

VNA