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Ho Chi Minh City
Tuesday, July 16, 2024

Market entrants and re-entrants surge in July

By C.P

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HCMC – This month has seen a record-breaking 20,761 businesses either established or resuming operations, a 34% increase year-on-year, according to the General Statistics Office.

Specifically, the market has welcomed 13,700 businesses this month with total pledged capital of VND126,900 billion. Concurrently, around 7,000 enterprises have resumed operations in July.

The number of newly-established businesses and their pledged capital have risen by 4.3% in volume and 2.4% in value, reported the Government news site at baochinhphu.vn. These businesses have created nearly 79,000 jobs.

In the first seven months of the year, the country has seen 89,600 businesses entering into the market with total investment capital of VND834,300 billion and creating 588,900 new jobs.

For July, the average pledged capital of a newly-established enterprise is estimated at VND9.3 billion. Considering the additional capital amount registered by existing businesses, the total pledged capital injected into the economy this month has reached VND1,952,200 billion.

In terms of sector distribution in the first seven months, the service sector has seen the highest number of newly-registered businesses, with 67,300 firms entering the local market. The sectors of industry-construction and agriculture-forestry-fishery follow, with 21,300 and 945 new market entrants, respectively.

The report also highlights the ongoing challenges facing the real estate sector from January to July. The number of newly-established businesses in the sector and their pledged capital in the first seven months have decreased compared to the same period last year, while the number of businesses exiting the market is rising.

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