Record number of new firms set up

The January-November period also saw another 24,560 firms, which had to close doors previously, resume operation, up 31.7 per cent year-on-year.- Photo vov.vn

The January-November period also saw another 24,560 firms, which had to close doors previously, resume operation, up 31.7 per cent year-on-year.

It raised the country’s total firms that were either newly set up or resumed operation in the past 11 months to 126,200.

On average, up to 382 new firms were set up per day during the period, GSO said.

It exceeded the total of 94,754 new firms set up last year, GSO noted, adding that compared with 2012, the number even had doubled.

“The sharp surge shows that new legal regulations and the Government’s solutions towards supporting and encouraging firms for development are taking effect,” GSO explained, adding that the number of newly-established firms rose in almost all sectors and industries.

Total registered capital of the new firms also surged 48.1 per cent against the same period last year to VNĐ797.7 trillion (US$35.29 billion). Average registered capital of a new firm was VNĐ7.8 billion, up 26.5 per cent year-on-year.

Several industries saw a robust surge in both the number of new firms and the registered capital, of which real estate reported a rise of 95.6 per cent and 221.2 per cent, information-communications up 13.8 per cent and 144.3 per cent, and finance-banking-insurance up 28.4 per cent and 91.8 per cent.

The forestry-fishery sector reported a decline of 13.8 per cent in the number of newly-established firms in the past 11 months, however, registered capital of the firms increased 27.9 per cent.

Art-recreation sector also saw a decline of 26.6 per cent and 13.8 per cent in terms of the number and the capital, respectively.

In the past 11 months, however, the country also witnessed 10,468 firms dissolving, while another 54,046 firms had to cease operations temporarily.