Number of newly-established firms up 21.7% in October

By VNA November 1, 2023 | 09:28 pm PT

Factories seen at Vietnam Singapore Industrial Park in the southern province of Binh Duong. Photo by VnExpress/Quynh Tran

Vietnam saw over 15,400 newly-established enterprises with total registered capital of VND125.8 trillion ($5.1 billion), respectively up 21.7% and 7.4% over the previous month.

The country recorded 131,800 new firms in the first ten months of this year with combined registered capital of over 1.21 quadrillion and 880,000 labourers, according to the General Statistics Office (GSO).

The number of enterprises resuming operations in during the period was 51,900, a year-on-year decline of 1.5%.

Meanwhile, 81,000 enterprises temporarily ceased operations, up 22.1% against last year's same period.

Deputy Minister of Industry and Trade Do Thang Hai suggested industry and business associations proactively guide enterprises in building strategies, production and business plans that are relevant to the needs and capabilities of each unit as well as transform production and business in accordance with market trends, especially shifting to green and sustainable exports.

Enterprises should take full advantage of opportunities and recovery trends of markets to boost exports, Hai added.