2017 marks record number of newly established enterprises

In 2017 almost 40 per cent more enterprises were established than in the year past

Notably, 126,859 out of the 153,307 are newly-established enterprises, while the remaining 26,448 resumed operations.

Total registered capital in the past 12 months were nearly $139.43 billion, including the capital of $57.08 billion registered by newly established enterprises, while newly added capital was $82.35 billion, with 35,276 requests for increasing registered capital.

In December alone, Vietnam has welcomed 10,814 newly-established enterprises with total registered capital of $7.23 billion, down 1.0 per cent in number but up 49.3 per cent in registered capital against the last month of 2016. Meanwhile, the number of enterprises resuming operations in December was 1,245, down 7.0 per cent.

Regarding the sectoral breakdown, in 2017 the wholesale, retail, and automobile repair had the highest number of enterprises registered with 45,411 firms, making up 35.8 per cent of the total.

The runners-up are the manufacturing and processing sector with 16,191 registrations (12.8 per cent), the construction with 16,035 firms, as well as the remaining sectors including science, technology, consultancy services, design and advertisement with 9,392 firms.

With regards to registered capital, the real estate registered the highest capital with VND388.37 trillion ($17.1 billion), contributing 30.0 per cent. Following are wholesale and retail, automobile repair with VND198.04 trillion ($8.72 billion), contributing 15.3 per cent, construction with VND190.8 trillion ($8.4 billion–14.7 per cent), and industrial processing and manufacturing with VND144.7 trillion ($6.37 billion–11.2 per cent).

The growing number of enterprises in Vietnam is testament to the efforts of the government to support startups and enterprises become a driving force for the economy.

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