Number of new VN businesses shoots up in Q1

Number of new VN businesses shoots up in Q1

Workers at a rubber products factory in HCM City’s Tân Quy Industrial Zone. — VNS Photo Thanh Vũ

HÀ NỘI — Nearly  二 六, 五00 enterprises were created in the first quarter of this year with a total registered capital of over VNĐ 二 七0 trillion (US$ 一 一. 八 billion), according to preliminary data reported yesterday in Hà Nội by the Ministry of Planning and Investment’s Enterprises Development Department.  

The number of newly-established firms rose  一 一. 四 per cent and  四 五. 八 per cent in capital value compared to the same period last year, the department reported. In March alone, the number of newly-registered firms is estimated at over  一 二,000, the highest level in six years.

But in the first quarter, some  九, 九00 enterprises temporarily ceased operations,  一0, 七00 enterprises are in the process of filing for dissolution, nearly  三, 七00 enterprises have completed procedures for dissolution or termination, up  一 二 per cent year-on-year. The majority of businesses that withdrew from the market are small firms.

Many firms suspended their activities in order to find new directions or prepare new business plans, said Trần Ngọc Nam, deputy director of the Hà Nội Department of Planning and Investment.

According to the Enterprises Development Department, the average registered capital per enterprise in the first quarter of  二0 一 七 reached VNĐ 一0. 二 billion, up  三0. 九 per cent over the same period of  二0 一 六.

Existing businesses have registered to increase their capital to over VNĐ 三 二0 trillion, bringing total capital poured into the economy in the first quarter of  二0 一 七 to nearly VNĐ 六00 trillion, up  八 per cent year-on-year.

The number of businesses resuming operations exceeded  九, 二00 in the first quarter of  二0 一 七, double the number in the first quarter of  二0 一 四. More than  九0 per cent out of some  一 一0,000 businesses registered in  二0 一 六 declared and paid taxes, indicating that they were already in operation, the department said.  — VNS