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Sunday, October 2, 2022

Number of HCMC-based firms resuming operations skyrockets 500%

By Dao Loan

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HCMC – HCMC has seen signs of strong economic recovery at the beginning of 2022, with the number of firms resuming operations in January rocketing by nearly 500% month-on-month.

January saw 4,850 enterprises restart business, soaring by 36.3% year-on-year, according to the municipal government.

In addition, in January, over 3,190 companies in HCMC were established, up 24.6% year-on-year, while the city saw a mere 382 firms complete procedures for disbandment, down 7.7% year-on-year and 27.2% month-on-month.

Many enterprises made positive moves in January. For example, the Saigon Hi-Tech Park reported a production value of over US$1.65 billion and export value of more than US$1.5 billion, both up 5% year-on-year.

Besides, a brighter picture of HCMC after the Covid pandemic was brought under control also showed that the city’s January agro-forestry-fishery production value inched up 1.5% year-on-year.

The city’s total retail sales of goods and services in January amounted to VND73 trillion, up 5.1% month-on-month, while tourism revenue reached over VND7 trillion, up 6.4% month-on-month.

HCMC’s budget revenue enjoyed a year-on-year increase of 19.4% in January, amounting to VND47.8 trillion.

In February, the city will adopt various solutions to “safely and flexibly adapt to and effectively control Covid-19, continue to improve the quality of urban governance and investment environment and support enterprises.”

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