Year-to-date figure increases significantly despite falling from June to July.
The Business Registration Agency under the Ministry of Planning and Investment has announced that from June 20 to July 20 the number of enterprises temporarily ceasing operations fell 35.7 per cent compared to May 20 to June 20 while those that had ceased operations but have now resumed operations increased 33 per cent.
There were 6,598 newly-established enterprises with registered capital of VND38.8 trillion ($1.78 billion) in the period, down 29.4 per cent in number and 38.4 per cent in capital compared with the previous period.
Meanwhile, the number of enterprises ceasing operations in the period was 748, down 9.2 per cent compared with the previous period and the number of enterprises that temporarily ceased operations was 3,172, down 35.7 per cent from the previous month.
The number of businesses resuming operations in the period was 1,467, up 33 per cent compared with the previous period.
The agency also reported that in the first seven months the number of newly-established enterprises was 52,004 with total registered capital of over VND321 trillion ($14.76) billion, up 22.7 per cent in number and 22.4 per cent in capital compared with the same period of 2014.
Operating businesses are also investing more capital, with 12,749 doing so to the tune of VND365.1 trillion ($16.79 billion). The total of newly-registered capital and additional capital in first seven months was therefore VND686.4 trillion ($31.5 billion).
The central highlands recorded the highest fall in the number of newly-established enterprises in the first seven months, while areas with high growth rates included the Red River Delta, with 26.3 per cent, the south with 25.7 per cent, and the north-central and central region with 22.7 per cent.