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Tuesday, June 18, 2024

Nearly 51,400 firms exit market in Jan-Feb

The Saigon Times

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HCMC – Nearly 51,400 businesses have pulled out of the market in the year to date, up 14.5% year-on-year, according to the General Statistics Office.

Of these companies, some 38,800 have temporarily suspended their operations, up 18.5% year-on-year, and 9,400 have halted their operations pending dissolution, up 5.8% against the year-ago period. Over 3,200 have completed procedures for disbandment, a year-on-year drop of 1.6%.

In February, over 3,800 businesses temporarily ceased their operations, dipping by 89% month-on-month but rising by 9.7% year-on-year. More than 2,630 firms were awaiting dissolution, up 37.5% year-on-year, and nearly 1,200 enterprises completed disbandment procedures, down 5.4% against the year-ago period.

Nearly 19,700 enterprises were established in the first two months of this year, down 3% year-on-year. These new market entrants registered total capital of over VND164 trillion and 119,600 employees, down 40.7% and 20.1%, year-on-year, respectively.

More than 18,200 companies have returned to the local market in the year to date, down 18.6% year-on-year, raising the total number of firms entering the market and resuming operations during the two-month period to 37,900, a year-on-year decline of 11.2%, the local media reported.

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