Newly established firms up in 10 months

Newly established firms up in 10 months

Workers at a wood factory in HCM CIty. — VNA/VNS Photo Hồng Đạt

HÀ NỘI — Việt Nam saw over  一 三,000 new enterprises formed with a total registered capital of VNĐ 一0 六. 九 trillion in October, up  一 三. 六 per cent in number of firms but down  二 一. 四 per cent in capital over the previous month.

The country counted  一 二 五, 八00 new firms in the first ten months of this year with combined investments of over VNĐ 一. 三 七 quadrillion and  八 三 五,000 labourers, according to the General Statistics Office (GSO).

The figures represented increases of  三 四 per cent in the number of firms,  六 per cent in capital and  一 八 per cent in workforce compared with the same period last year, the GSO said, adding that the average capital of new enterprises in the period was VNĐ 一 一 billion.

Meanwhile,  四 二, 六00 operating enterprises registered an increase of above VNĐ 二. 七 九 quadrillion. Therefore, the total registered capital of the economy in the first ten months topped more than VNĐ 四. 一 六 quadrillion, up  三 一 per cent year-on-year.

The GSO reported that the number of enterprises returning to business was  五 二, 七00 during the period, a yearly hike of  四 九 per cent.

On the opposite side,  六 六, 四00 enterprises temporarily ceased operation, up  三 七 per cent against the last year's same period. Another  四0, 三00 were in the dissolution process, a year-on-year rise of  一 三. 四 per cent and  一 二, 二00 completed dissolution procedures.

On average,  一 二, 二00 businesses withdraw from the market every month.

From January to October,  一, 六 八 四 newly-established enterprises operate in the agriculture, forestry and fishery sectors, up  五. 一 per cent over the same period last year; over  三 一,000 in the industrial and construction industries, up  二 三. 三 per cent; and  九 三, 一00 in the service sector, up  三 九 per cent.

To support businesses, GSO General Director Nguyễn Thị Hương suggested ministries and branches to ensure the adequate supply of raw materials and energy to meet enterprises' requirements of production and business recovery and socio-economic development; remove difficulties and obstacles for important industrial projects; and support factories to maintain and restore production to keep orders.

Along with that, in the context of deep global integration, she suggested that rising use of trade remedies and supporting Vietnamese exporters be an important role in protecting and developing export markets, she said.

Many manufacturing enterprises also suggested that the Government continue to simplify customs procedures and make them more transparent to reduce costs and enhance predictability for businesses.

Accordingly, it is necessary to quickly build and use systems for the electronic exchange of data between enterprises, customs and related agencies. — VNS