Hanoi welcomes 9,400 new firms in four months

At the business registration office under the municipal Department of Planning and Investment (Photo: VNA)

Hanoi – The capital city of Hanoi witnessed 9,400 enterprises enter the market with the total registered capital of 97.6 trillion VND (3.84 billion USD) during January-April, falling 6 per cent in the number of firms and rising 9 per cent in capital as compared to the same time last year, according to the municipal Statistics Office.

The city saw the resurgence of 4,500 companies that had previously ceased operation, a year-on-year increase of 10 per cent.

Meanwhile, more than 14,200 enterprises dropped out of the market, and 1,400 others were dissolved during the period, growing 24 per cent and 12 per cent, respectively, against the same period in 2023, posing great challenges to the labour market.

Director of the department Dau Ngoc Hung said the employment rate at industrial enterprises decreased 2 per cent year on year, adding the number of workers in foreign-invested and non-state sectors fell 2.5 per cent.

The figures in the sectors of processing and manufacturing, and power and gas production and distribution slid 2.5 per cent and 0.4 per cent, and those in water supply and waste treatment and mining rose 1.3 per cent and 45.6 per cent.

However, thanks to the municipal People’s Committee's resolve and rational solutions, the index of industrial production in the four-month period increased 4.5 per cent against the same time last year, with processing and manufacturing up 3.6 per cent, power generation and distribution up 13.6 per cent and water supply and waste treatment up 9 per cent.

As various measures were rolled out to lure more foreign direct investment (FDI) projects, the city attracted more than 1.13 billion USD in FDI capital during January-April.

The local administration also held meetings and dialogues with businesses in an effort to remove bottlenecks and help workers stablise their jobs.

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