Number of newly-established firms down 12.8% in August

Unveiling the statistics on September 6, the General Statistics Office (GSO) reported that the average registered capital of a new enterprise throughout the reviewed period stood at VND9.3 billion, marking a decline of 3.9%.

Meanwhile, August saw nearly 8,500 businesses return to operation, marking an increase of 35.6%.

Overall, over eight months, the country welcomed 110,800 newly-established enterprises with a total registered capital of VND994.7 trillion, that generated 672,400 new jobs.

These figures demonstrate a 4.4% increase in the number of firms, a 0.7% rise in registered capital, but a 1.9% decrease in the workforce from the corresponding period last year.

It’s noteworthy that a total of 82,800 enterprises temporarily ceased operations, up 15.3% against last year's same period.

Throughout the reviewed period, some 38,700 businesses stopped operations, waiting for dissolution procedures, an annual decrease of 5.8%, whilst 13,800 enterprises completed dissolution procedures, up 18%. On average, 16,900 businesses withdrew from the market every month.