New firms register nearly $9 billion in first two months

March 01, 2018 | 22:52

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Vietnam had an average of 300 newly-established firms with an average of VND10.5 billion ($0.46 million) in registered capital each day in January and Febuary this year in the context of reaching the goal of a start-up nation.

new firms register nearly 9 billion in first two months

According to the Business Registration Agency at the Ministry of Planning and Investment, the number of newly-established enterprises in February was 7,864, carrying the total registered capital of about VND100 trillion ($4.4 billion), up 44 per cent in number and 59.1 per cent in registered capital compared to last year.

In the first two months of 2018, there 18,703 new firms were established with the total registered capital of VND197.3 trillion ($8.7 billion), up 29.4 per cent in number and 29.3 per cent in registered capital against the corresponding period last year.

There were an average of 300 newly-established firms with an average of VND10.5 billion ($0.46 million) in registered capital each day.

There were an average of 300 newly-established firms with an average of VND10.5 billion ($0.46 million) in registered capital each day. The number of employees of the newly established firms is 156,410, down 6.1 per cent on-year.

Real estate is the most attractive sector with VND58.741 trillion ($2.6 billion) of newly registered capital, capturing 29.8 per cent of the total. It is followed by the construction sector with VND30.3 trillion ($1.34 billion), or 15.4 per cent, then wholesale, retail, and automobile repair with VND28 trillion ($1.24 billion), accounting for 14.2 per cent. Next is the processing and manufacturing sector with VND20 trillion ($0.9 billion), capturing 10.1 per cent.

The number of enterprises resuming operations in the first two months is 6,878, down 13.8 per cent on-year. The number of enterprises temporarily suspending operations is 11,191, up 29 per cent on-year. The number of enterprises waiting for dissolution and the completion of dissolution procedures is 8,470.

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