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Vietnam Today

More businesses resume operations

Released at: 08:18, 03/03/2015

More businesses resume operations

4,376 enterprises resumed operations around the country during the first two months of this year, an increase of 20.8 per cent compared with the same period last year.

by Do Huong

According to the latest report from the Ministry of Planning and Investment, the number of enterprises that resumed operations is proof that the economy is recovering. Key industries are seeing rising numbers of companies resuming operations, such as Education and Training (up 39.5 per cent), Mining and Quarrying (46.3 per cent), Real Estate (52.8 per cent), and Finance, Banking and Insurance (115.8 per cent).

In the first two months of this year 13,766 newly-established enterprises entered the economy with total registered capital of VND77.5 trillion ($3.6 million), an increase of 26.6 per cent in number and of 23.3 per cent in registered capital compared to the same period of last year. This is also a good sign for the economy.

However, in the first two months more than 16,000 enterprises were dissolved or suspended operations, of which 2,055 were dissolved while 4,796 businesses halted operations. The remaining 9,246 failed to meet their tax obligations or are yet to notify registration agencies of their closure. Most businesses temporarily halting operations were of small scale, with capital of less than VND10 billion ($46,500).

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