HCMC – Over 34,600 companies were established in HCMC in the first eight months of this year, a 6.5% increase over the same period last year, according to the city’s Statistics Office.
However, total registered capital dropped by 10.2% against the year-ago period to about VND272.9 trillion.
The average capital per business declined by 16%. Despite the rise in new companies, the number of businesses exiting the market also increased by 7.4%. For every 100 new market entrants, 58 withdrew, the HCMC Statistics Office said.
Limited liability companies represented 91.6% of new businesses, followed by joint-stock companies at 7.6%. Over 82% of the new enterprises were in the service sector, while 17% operated in the industry and construction sectors, and 0.3% were involved in agriculture, forestry, and fisheries.
Agricultural businesses experienced a 6% increase, with registered capital surging by 56% to more than VND2 trillion.
Meanwhile, the number of new businesses in the industry and construction sectors decreased by 1.5%, and their registered capital plunged by 45%.
In contrast, the trade and service sector saw an 8% increase in new businesses, totaling over 28,500, with a 3% rise in registered capital, reaching VND223 trillion.
The accommodation and food services sector saw over 1,400 new businesses, with licenses decreasing by 7% but capital soaring by 118% to VND14 trillion. The transport and storage sector registered about 1,660 new entrants, with a 4.2% increase in licenses but a 24% decline in capital, totaling VND9.2 trillion.
