Newly-established businesses in H1 exceed 70,000 for first time

There were 76,233 newly-registered enterprises in the first six months of this year, an increase of 13.6 per cent compared to the same period last year.

Workers make garment products of Apparel Far Eastern Việt Nam Co. in Bình Dương Province. — VNA/VNS Photo

There were 76,233 newly-registered enterprises in the first six months of this year, an increase of 13.6 per cent compared to last year.

This is the first time that the number of newly-established enterprises in the first six months has exceeded 70,000.

Data from the Business Registration Management Agency, Ministry of Planning and Investment, showed that 116,900 enterprises were entering or re-entering the market in the first six months.

In terms of capital, although it declined by 6.4 per cent over the same period last year, with a value of VNĐ882.1 trillion (US$38.4 billion), it was still 1.2 times higher than the average for 2017-2021.

Hà Nội and HCM City continued to record a significant increase in newly-established enterprises.

Accordingly, Hà Nội has 14,628 newly-established enterprises, up 9.8 per cent yearly.

HCM City has 22,469 newly established enterprises, a year-on-year increase of 11.5 per cent.

Meanwhile, the number of enterprises returning to operation in the first six months of this year was 40,667, an increase of 55.6 per cent over the same period last year and 1.9 times higher than the average in 2017-2021.

In the opposite direction, 83,570 businesses withdrew from the market in the first six months of this year, a year-on-year growth of 19 per cent.

Enterprises withdrawing from the market are mainly temporarily suspending their businesses, with 50,909 enterprises, accounting for 60.9 per cent.

Enterprises temporarily suspending business were mainly in the fields of wholesale, retail, car and motorbike repairing (18,417 enterprises, accounting for 36.2 per cent), construction (7,206 enterprises, 14.2 per cent) and processing and manufacturing industry (5,948 enterprises, 11.7 per cent). — VNS

Source: VNA
vietnamnews.vn

Related News

Unlock capital flows and create favorable conditions for investors

Unlock capital flows and create favorable conditions for investors

VCN - Talking with the press, Dr. Ngo Cong Thanh (Photo), Provisional Executive Committee member of the Vietnam Industrial Park Finance Association (VIPFA), said that it is necessary to open up capital flows and create conditions for investors to access key factors. Facilitate production and business factors and innovate investment promotion activities to more effectively develop industrial parks.
Businesses hunts for effective implementation of Resolution 02

Businesses hunts for effective implementation of Resolution 02

VCN - According to Dr. Nguyen Minh Thao, Head of the Business Environment and Competitiveness Research Department (CIEM), businesses long to administrative reform and business environment improvement, which also are the least expensive support package amid the shortage of support resources.
Businesses expect reforms to be effective, substantive and put into practice

Businesses expect reforms to be effective, substantive and put into practice

VCN - The restoration of the Reform Program to improve the business environment by issuing Resolution No. 02 dated January 5, 2024 to create pressure and arouse the motivation and spirit of reform for ministries, branches and localities.
Finance sector abolishes 40 administrative procedures

Finance sector abolishes 40 administrative procedures

VCN - The Ministry of Finance said that in the first two months of 2024, the Ministry of Finance issued four decisions announcing amendments and supplements and replacement of 21 administrative procedures; abolishing of 40 administrative procedures and issuing 10 new administrative procedures in the fields of tax and insurance.

Latest News

Import turnover of 19 commodity groups grows over 20%

Import turnover of 19 commodity groups grows over 20%

VCN – Most of major import commodity groups have high growth turnover compared to the same period in 2023.
Vietnam owns significant advantages in attracting FDI

Vietnam owns significant advantages in attracting FDI

VCN - In an interview with Customs News, Dr. Vo Tri Thanh, Director of the Institute of Branding and Competition Strategy, believed that the global minimum tax could affect global foreign direct investment (FDI) flows and the FDI attraction policies of each country. However, "in crisis lies opportunity", Vietnam still has significant advantages in attracting FDI.
Nearly 7,000 tariff lines of AKFTA product specific rules need to be transposed

Nearly 7,000 tariff lines of AKFTA product specific rules need to be transposed

VCN - ASEAN member states and the Republic of Korea (RoK) reached a consensus on the transposition of ASEAN-RoK Free Trade Agreement (AKFTA) Product Specific Rules from the Harmonised System Codes HS 2017 to HS 2022.
Vietnam needs to cook up stronger global rice brand

Vietnam needs to cook up stronger global rice brand

Although Vietnamese rice has a foothold in several fastidious markets, there is a long way to go to make it a stronger brand globally, according to insiders.

More News

Vietnam advised to fully tap CPTPP to boost exports to Canada

Vietnam advised to fully tap CPTPP to boost exports to Canada

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has opened up numerous opportunities for Vietnam and Canada to boost two-way trade, however, tax initiatives under the trade pact have not been tapped to the fullest extent by the Vietnamese exporters, said Vietnamese Trade Counsellor in Canada Tran Thu Quynh.
ASEAN, RoK agree on transposition of AKFTA product specific rules

ASEAN, RoK agree on transposition of AKFTA product specific rules

ASEAN member states and the Republic of Korea (RoK) have reached a consensus on the transposition of ASEAN-RoK Free Trade Agreement (AKFTA) Product Specific Rules from the Harmonised System Codes HS 2017 to HS 2022.
Opportunities for digital technology businesses to go global

Opportunities for digital technology businesses to go global

Finding solutions and directions to promote and develop Vietnamese digital technology enterprises is an important task, which will promote the stability and sustainability of the country's economy, heard a recent conference.
Vietnam, China eye stronger border trade

Vietnam, China eye stronger border trade

Border provinces of Vietnam and China should continue close coordination and enhance trade promotion between the two sides, stressed the recent talks between the management boards of the economic zone of the northern province of Ha Giang and the Malypo border economic cooperation zone of China’s Yunnan province.
Improve competitiveness and sustainable development of the seafood industry

Improve competitiveness and sustainable development of the seafood industry

VCN - In early 2024, seafood exports have prospered. This is the driving force that helps seafood businesses hope for a stronger recovery this year. Ms. Nguyen Thi Thu Sac, Chairwoman of the Vietnam Association of Seafood Exporters and Producers (VASEP) shared with Customs Magazine.
Business environment reform needs further promotion: expert

Business environment reform needs further promotion: expert

Resolution 02 issued by the Government creates pressure for the ministries, sectors and localities to make changes for the business community as well as the socio-economic development.
Singapore is the largest foreign investor in VN in Q1

Singapore is the largest foreign investor in VN in Q1

The disbursed FDI rose by 7.1 per cent in the first quarter to reach $4.63 billion, a signal that the disbursement will continue the positive trend, the agency said.
Thai Binh boosts investment, trade cooperation with Germany

Thai Binh boosts investment, trade cooperation with Germany

A delegation from the northern province of Thai Binh, led by Deputy Secretary of the provincial Party Committee Nguyen Khac Than, visited several localities and business organisations in Germany from March 25 to 27, in a bid to enhance trade cooperation with and attract direct investment from the European nation.
Lifting obstacles to develop industrial parks

Lifting obstacles to develop industrial parks

VCN - Attracting investment and developing industrial zones (IZs) and economic zones (EZs) is one of the important contents to implement the policy of developing a multi-component, open, attract investment and resources from all economic sectors to develop the country. In addition to the results achieved, there still limitations that need to be removed to draw investments to develop industrial parks and economic zones, including financial problems for industrial parks.
Read More

Your care

Latest Most read
Import turnover of 19 commodity groups grows over 20%

Import turnover of 19 commodity groups grows over 20%

VCN - According to the General Department of Vietnam Customs, in the first two months of 2024, the total import turnover of the country increased by 17.1% year-on-year to US$ 54.21 billion. The result is only lower than the record increase of the same per
Vietnam owns significant advantages in attracting FDI

Vietnam owns significant advantages in attracting FDI

VCN - Vietnam's economy has passed the most dangerous and difficult period and is now more stable. Inflation, exchange rates, and interest rates have decreased, bank liquidity has stabilized, and the stock and bond markets have experienced shocks and begu
Nearly 7,000 tariff lines of AKFTA product specific rules need to be transposed

Nearly 7,000 tariff lines of AKFTA product specific rules need to be transposed

ASEAN member states and the Republic of Korea (RoK) reached a consensus on the transposition of ASEAN-RoK Free Trade Agreement (AKFTA) Product Specific Rules
Vietnam needs to cook up stronger global rice brand

Vietnam needs to cook up stronger global rice brand

Although Vietnamese rice has a foothold in several fastidious markets, there is a long way to go to make it a stronger brand globally, according to insiders.
Vietnam advised to fully tap CPTPP to boost exports to Canada

Vietnam advised to fully tap CPTPP to boost exports to Canada

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has opened up numerous opportunities for Vietnam and Canada to boost two-way trade, however, tax initiatives under the trade pact have not been tapped to the fullest extent by the Vietnamese exporters, said Vietnamese Trade Counsellor in Canada Tran Thu Quynh.
Mobile Version