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Number of firms shut down rises 23 percent

By Minh Son   May 30, 2021 | 08:53 pm PT
Number of firms shut down rises 23 percent
Tourists walk by a closed hotel in Hanoi downtown on February 27, 2020. Photo by VnExpress/Anh Tu.
As many as 59,800 companies closed down in the first five months of this year, a year-on-year increase of 23 percent, according to the General Statistics Office.

Around 20,000 are completing procedures for dissolution while 8,000 are already dissolved.

The remaining 31,800 have temporarily suspended operations, mostly to prevent the spread of Covid-19. In Covid hotspot Bac Giang Province for instance, four entire industrial parks were shut down on May 18.

As of Monday morning the province has reported 2,161 cases. Its industrial park management board has allowed only nine businesses in industrial parks to reopen.

Meanwhile, nearly 55,800 new enterprises were incorporated in the first five months of 2021, an increase of 15.4 percent. Their total registered capital was VND778.3 trillion ($33.7 billion), up 39.5 percent.

Another 22,600 that had suspended their business resumed operations.

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