New companies up 4.5pc in 11 months

More than 121,200 new enterprises were formed in the first 11 months of this year. - Photo tapchitaichinh.vn

These figures marked a year-on-year surge of 4.5 per cent in the number of firms and 9.1 per cent in total capital, the Business Registration Management Agency under the Ministry of Planning and Investment (MPI) reported.

The average registered capital per enterprise in the first 11 months was VND10.2 billion, up 4.1 per cent over the same period last year.

The total registered capital for the domestic economy in the period was VND3.43 quadrillion, up 26.5 per cent against the same period last year, including VND1.23 quadrillion from newly established enterprises and VND2.2 quadrillion from enterprises in operation registering to increase capital for their production and business.

In November, the number of newly established enterprises was 11,637 enterprises with registered capital of VND118.42 trillion, a drop of 10.5 per cent in the number of new firms and 22 per cent in capital month-on-month, according to the agency. However, those figures still rose 6.5 per cent in the number of new firms and 7.7 per cent in terms of capital year-on-year.

According to the agency, during the January-November period, the number of new enterprises in the real estate sector has the largest growth rate at 41.7 per cent year on year and the largest volume of registered capital at VND375 trillion, accounting for 30.4 per cent of the total registered.

Following was the finance, banking and insurance sector with an increase of 23.7 per cent in the number of new firms and the healthcare and social assistance firms with a growth rate of 20.8 per cent.

The catering services and accommodation sector recorded growth of 11 per cent in newly established firms.

Meanwhile, the wholesale, retail, automobile and motorbike maintenance, construction and manufacturing-processing sectors have low growth rates of between 0.6 per cent and 5.8 per cent in number for newly established firms.

The agency said the number of firms that suspended operations also increased 49.3 per cent year on year to 83,108 units.

About 14,800 firms completed dissolution procedures in the first 11 months, up 37.4 per cent.