Nearly 20 thousand businesses are newly established and return to operation every month

Compared to the same period last year, there was a decrease of 0.7% in the number of enterprises, a drop of 22.1% in registered capital and an increase of 12.7% in the number of employees. In the first quarter of 2024, the whole country had more than 36.2 thousand newly registered enterprises with a total registered capital of VND332.2 trillion and a total number of registered employees of nearly 258.8 thousand workers which was a growth of 6.9% in a number of businesses, increased 7% in registered capital and rose 21.9% in a number of employees compared to the same period last year.

The average registered capital of a newly established enterprise in the first three months of 2024 reached VND9.2 billion, rising 0.1% over the same period in 2023. Suppose it includes VND392.3 trillion of additional registered capital of more than 9.7 thousand enterprises increasing capital. In that case, the total registered capital added to the economy in the first three months of 2024 is VND724.5 trillion, decreasing 4.3% over the same period in 2023.

In addition, the whole country has more than 23.6 thousand businesses returning to operation (growing 2.4% over the same period in 2023), increasing the total number of newly established businesses and returning to operation in 3 months. By the beginning of 2024, there will be nearly 59.9 thousand enterprises, an increase of 5.1% over the same period in 2023. On average, there will be nearly 20 thousand new enterprises established and returned to operation each month.

The average registered capital of a newly established enterprise in the first three months of 2024 reached VND9.2 billion, rising 0.1% over the same period in 2023. Photo: L.T

Also in the first three months of the year, the number of enterprises temporarily suspending business was 53.4 thousand enterprises, an increase of 24.5% over the same period last year; more than 15.5 thousand businesses stopped operating and waiting for dissolution procedures which was an increase of 21.7%; 5.1 thousand businesses completed dissolution procedures, an increase of 10.1%. On average, nearly 24.7 thousand businesses withdraw from the market every month.

Thus, comparing the number of enterprises registering new establishments and returning to operation with the number of enterprises withdrawing from the market, the total number of enterprises in Vietnam decreased by 14.1 thousand enterprises in the first quarter of 2024. On average, a decline of 4.7 thousand businesses per month.