New business laws have entrepreneurs flooding in

By Ha Phuong   June 29, 2016 | 09:01 pm GMT+7

Recently passed enterprise and investment laws have improved business climate and promoted entrepreneurship as in the first half of 2016 Vietnam has welcomed 300 newly registered companies each day, said Bui Anh Tuan, Deputy Directorate of Business Registration Department.

During the first half of the year, more than 54,500 companies were established with total registered capital of approximately $20 billion, marking an on-year jump of 20 percent in volume and 50 percent in value.

According to Tuan, the most appealing business sectors were real estate, mining, information and communications, together with science and technology.

Business confidence has been improving in the first six months as the number of companies resuming their operations was up 75.2 percent on-year, touching 15,000 firms, the highest recorded in recent years according to the General Statistics Office (GSO).

80 percent of companies surveyed by GSO have been doing well in the first half of 2016.

Still, the number of dissolved companies, though declining, was approximately 15 percent higher than the same period last year. 

 
 
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