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New enterprises increase in August

Released at: 11:36, 28/08/2015

New enterprises increase in August

August numbers up 84% year-on-year while eight-month numbers up 30%.

by Son Ho

According to the General Statistics Office there were 9,301 newly-established enterprises in August with total capital of VND55.2 trillion ($2.43 billion), an 84 per cent increase in numbers and double the capital year-on-year.

In the first eight months of this year 61,305 enterprises completed registration procedures with capital of around VND376.4 trillion ($16.56 billion), a 30 per cent increase compared to the first eight months of last year. Together with additional capital from existing enterprises, total capital reached VND857.9 trillion ($37.75 billion).

There were also 11,333 enterprises that had temporarily suspended operations restarting their business, a 4 per cent increase against the first eight months of 2014.

With an average of 250 companies being established every day, a huge number of jobs are being created. Figures show that employment created by the establishment of new enterprises in August totaled 873,300, a 23 per cent increase compared to August 2014.

The number of enterprises dissolved in the first eight months fell year-on-year, at 6,290. Most were of small scale, with capital of VND10 billion ($440,000) or less. The number of enterprises temporarily suspending operations stood at 39,056, a 2 per cent increase against the first eight months of 2014.

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