Over 22,100 new businesses established in two months
The S&P Global Vietnam Manufacturing Purchasing Managers’ Index (PMI) is 50.4 in February, up from 50.3 in January. (Photo: nhandan.vn)
Vietnam witnessed the establishment of 22,128 enterprises in the first two months of the year with combined registered capital of nearly 219 trillion VND (8.88 billion USD), according to the Ministry of Planning and Investment’s Business Registration Management Agency.
The figures represented a year-on-year increase of 12.4% in the number of new businesses, and a rise of 32.8% in capital.
Industries with sharp increases in the number of newly-established enterprises included mining (up 28.8%), transport and warehouse (26.5%), and other services (21.5%).
Additionally, 18,969 companies resumed their operations in the January-February period, bringing the total number of newly-established firms and enterprises resuming operations to 41,097, a 8.5% rise from the same time in 2023.
Meanwhile, a total of 62,977 businesses withdrew from the market during January – February, up 22.5% year-on-year, demonstrating the fact that enterprises have been facing difficulties in business and production.
The S&P Global Vietnam Manufacturing Purchasing Managers’ Index (PMI) posted 50.4 in February, up from 50.3 in January, and above the 50.0 no-change mark for the second consecutive month.
Experts said the rate of improvement in the sector’s health signaled by the index remained only marginal; however, there was a rise in both employment and business confidence.
According the General Statistics Office, improving business climate should be prioritised with a view to promoting businesses’ fast and sustainable development. The focus should be placed on the removal of bottlenecks in legal procedures for investment and business activities.
Besides, the State Bank of Vietnam should continue measures to gear capital towards priority areas and growth driving forces, remove roadblocks to offer added-value tax refunds to tax payers in a timely manner, and improve the efficiency of the credit guarantee fund for small and medium sized enterprises (SMEs) and the fund for SMEs’ development.
Furthermore, businesses should be urged to promote innovation, digital transformation and green transition towards sustainable development./.
Related News
Latest News
An Giang Province to turn textile-garment, footwear into key export items
14:48 | 09/05/2024 Import-Export
“Hopeful stars" for businesses on the new journey
09:51 | 09/05/2024 Import-Export
Vietnam remains attractive destinations for Japanese IT firms
15:42 | 08/05/2024 Import-Export
Pepper exports decrease in volume, increase in value
15:38 | 08/05/2024 Import-Export
More News
Open credit flow to support import and export
09:30 | 08/05/2024 Import-Export
Import turnover increases by US$13.5 billion
09:30 | 08/05/2024 Import-Export
Green production, trade will help wood industry increase export: Viforest
14:30 | 07/05/2024 Import-Export
Hanoi attracts over 1.1 billion USD in FDI in four months
14:28 | 07/05/2024 Import-Export
FDI flows strongly into manufacturing, real estate
14:26 | 07/05/2024 Import-Export
Maintaining recovery momentum amid uncertainties
09:09 | 07/05/2024 Import-Export
Make use of the most of favorable factors for economic growth
15:38 | 06/05/2024 Import-Export
Textile and garment businesses face difficulties due to lack of domestic supply
15:36 | 06/05/2024 Import-Export
Vietnam leads in export rice prices globally
15:34 | 06/05/2024 Import-Export
Your care
An Giang Province to turn textile-garment, footwear into key export items
14:48 | 09/05/2024 Import-Export
“Hopeful stars" for businesses on the new journey
09:51 | 09/05/2024 Import-Export
Vietnam remains attractive destinations for Japanese IT firms
15:42 | 08/05/2024 Import-Export
Pepper exports decrease in volume, increase in value
15:38 | 08/05/2024 Import-Export
Open credit flow to support import and export
09:30 | 08/05/2024 Import-Export