Vietnam sees over 22,000 new firms in first two months

By VNA March 1, 2024 | 04:38 pm PT

A worker is seen at an electronics factory in Ho Chi Minh City. Photo by VnExpress/Le Tuyet

Vietnam saw more than 22,000 newly-established firms in the first two months of this year with total registered capital amounting to VND218.71 trillion (over $8.87 billion), according to the General Statistics Office (GSO).

The figures represented yearly increases of 12.4% in the number of firms and 32.8% in capital, it said.

During the period, nearly 18,970 enterprises resumed their operations, rising 4.4% over the same period last year. The latest addition pushed the total number of newly-established businesses and firms resuming operations to 41,097, up 8.5% year on year.

In February alone, however, there were more than 8,590 new enterprises with total registered capital of VND67.26 billion, down 3% and up 2.5% respectively.

Over 49,270 businesses temporarily suspended operations from January to February, a yearly hike of 27%. However, 44,265 or 89.8% of the total were small-sized with a scale under VND10 billion.

Last year, nearly 160,000 new enterprises were set up in the country, up 7.2% year-on-year. This highest-ever figure was 1.2 times higher than the average of the 2017-22 period, surging 4.6% compared to the estimate for the year.