Number of new businesses registered in Vietnam hits record high in Jun

30 Jun '23

2 min read

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Insights

A record-high number of new businesses were registered in Vietnam in June this year, with 13,904 new enterprises registering in the month—an increase of 4.8 per cent year on year (YoY).
In the first six months of the year, about 113,000 enterprises were either set up or resumed operations and about 100,000 withdrew from the market—12,333 in June alone.

A record-high number of new businesses were registered in Vietnam in June this year, with 13,904 new enterprises registering in the month—an increase of 4.8 per cent year on year (YoY), according to the department for business registration management under the ministry of planning and investment.

A further 7,098 enterprises resumed their operations in the month, an increase of 215 per cent YoY.

In the first six months of the year, about 113,000 enterprises were either set up or resumed operations and about 100,000 withdrew from the market—12,333 enterprises in June alone.

The average number of enterprises withdrawing from the market reached 16,600 per month.

The registered capital of newly established enterprises continued to decrease during the first six months.

The total registered capital of newly established enterprises was VNÐ707,457 billion, or 75-80 per cent of the total registered capital in the same period of the years affected by the COVID-19 pandemic. The figure was VNÐ942,648 billion in 2021 and 882,122 billion in 2022.

The average registered capital per new enterprise in the first six months of 2023 only reached VNÐ9.3 billion, the lowest level for the first six months of the year since 2017, a Vietnamese newspaper reported.

During the six months, total capital that was registered to increase by operating enterprises also decreased by 48.1 per cent over the same period in 2022.

Fibre2Fashion News Desk (DS)

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