Nearly 110,800 new firms established in 8 months

The figures represent a year-on-year increases of 4.4% in the number of businesses and 0.7% in the capital, according to the General Statistics Office (GSO).

These new businesses registered a total of 672,400 workers, a drop of 1.9% over the same period last year.

The average registered capital of a new enterprise in the January - August period declined by 3.6% to VND9 billion.

In August, Vietnam had more than 13,400 newly established enterprises with registered capital of VND124.6 trillion , down 15.2% in number of businesses and 6.2% in registered capital month on month.

Between January and August, VND2.04 quadrillion of added registered capital was poured into Vietnam’s economy, down 5.1% compared to the same period last year.

During the reviewed period, over 57,3000 businesses resumed their operation in the first eight months, an increase of 25.3% over the same period in 2023, bringing the total number of newly established businesses and businesses returning to operation during the eight months to 168,100, a year-on-year increase of 12.5%.

Meanwhile, the number of enterprises temporarily suspending operation was over 82,800, an increase of 15.3% over the same period last year.