More than 6,800 enterprises resume operations in July

More than 6,800 enterprises resume operations in July, Illustrative photo (Photo: VNA)

Hanoi – More than 6,800 enterprises resumed operations in July, up 26.2 per cent over the previous month but down 0.7 per cent from the same period last year, according to the Agency for Business Registration (ABR) under the Ministry of Planning and Investment.

Also in July, 14,700 enterprises were established in July with a total registered capital of 110 trillion VND (4.36 billion USD), a drop of 6.3 per cent in the number of enterprises and a decline of 22.8 per cent in registered capital against the previous month.

In the first seven months of this year, nearly 44,300 enterprises re-enter the market, up 4.7 per cent over the same period last year.

More than 95,200 enterprises were established in the January-July period with a total registered capital of 854.6 trillion VND, up 6.3 per cent and 2.4 per cent in the number of enterprises and registered capital, respectively.

According to the ABR, nine out of 17 industries saw increases in the numbers of newly established enterprises compared to the same period in 2023.

Specifically, the number of newly-established enterprises in transport and warehousing ranked first with a rise of 20.8 per cent, followed by wholesale, retail, car and motorbike repair with 14 per cent, and electricity, water, gas production and distribution industries with 12 per cent.

Meanwhile in July, 6,837 enterprises temporarily suspended operation, up 26.2 per cent over the same period last year but down 0.7 per cent from the same period last year. A total of 7,035 enterprises stopped operating to wait for dissolution procedures, up 30.2 per cent from the previous month and up 33.8 per cent over the same period last year; and 1,730 businesses completed dissolution procedures, down 22.4 per cent from June but up 9.4 per cent from the same period last year.

In the January-July period, the number of enterprises temporarily suspending business was more than 78,000, up 16.7 per cent compared to the same period last year.

More than 35,500 enterprises stopped operating to wait for dissolution procedures, down 1.5 per cent over the same period last year; and 11,900 enterprises completed dissolution procedures, an increase of 14.5 per cent over the same period last year.

Enterprises honoured for green transformation strategies Enterprises with outstanding general green transformation strategies were honoured at the Vietnam Industrial Property Forum on July 30.

SMEs must be afforded finance access Smaller enterprises in Vietnam, despite contributing up to 70 per cent to GDP, still face significant challenges in accessing finance.