Vietnam’s new enterprises up 36.1% in May as social distancing eased

Saturday, 2020-05-30 10:14:28
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The number of new enterprises soar in May after of social distancing measures in April.
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NDO - Vietnam saw 10,728 new enterprises in May, up 36.1% compared with the previous month, following the government’s decision to ease social distancing measures implemented to contain the coronavirus.

Such businesses registered a total capital of VND112.7 trillion (US$4.8 billion), up 27% from the previous month, and are expected to create 91,500 jobs, according to the General Statistics Office.

The month also saw 5,056 enterprises returning to business, up 32.7% month-on-month while those temporarily out of business fell 18.9% to 3,342.

However the total number of new companies established in the first five months of 2020 dropped by 10.5% to 48,300 compared with the same period in 2019.

They pledged to invest a total of VND558 trillion (US$23.9 billion) and planned to hire 407,000 people.

During the January-May period, the number of enterprises resuming operation climbed by 10.5% year on year to 21.700 while another 26,000 temporarily went out of business, up 36.4% over the same period of 2019.