Over 11,000 businesses established in October

Friday, 2017-10-27 11:03:11
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The number of newly established businesses in October increases 29.6% compared to the previous month.
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NDO – Over 11,000 new businesses have been established across the country so far this month, with a registered capital of approximately VND119.24 trillion (US$5.25 billion), up 29.6% in the number of enterprises and 48% in terms of the registered value in comparison to September.

The number of employees registered by newly established firms in October is roughly 90,000, representing a 40.5% hike compared to the previous month.

Meanwhile, more than 1,300 businesses have resumed operations, down 31.7% from a month previous.

In the first ten months of 2017, over 105,000 new businesses have been set up in Vietnam with a registered capital of nearly VND1.02 quadrillion (US$44.88 billion), up 14.6% in the quantity of enterprises and up 43.8%, with regards to the registered capital, compared to last year.

Around 90.7% of these are companies with registered capital below VND10 billion (US$440,000).

The wholesale and retail trade and repair of motor vehicles and motorcycles industry reported the largest number of newly established companies during the period, with over 37,810, followed by the manufacturing and processing sector with nearly 13,450. The real estate industry saw the biggest increase in terms of the number of enterprises at 62.5%.

The average registered capital per enterprise between January and October stood at VND9.7 billion (US$426,800), representing a 25.5% hike compared to the same period last year.

On the contrary, the number of labourers registered by newly established businesses so far this year declined 8% annually to 976,420 employees.