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Number of newly-established firms declines over 20% in February

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HCMC – Over 8,000 businesses were established across Vietnam last month, with the total registered capital exceeding VND179 trillion, dropping 20.3% in the number and rising nearly 16% in capital value over the previous month, Bnews news site reported, citing data of the General Statistics Office (GSO).

In the same month, some 3,600 businesses registered to temporarily suspend their operations, down 80% month-on-month and over 21% versus last year’s figure. Also, around 2,600 businesses halted their operations pending dissolution, falling over 53% against January and over 32% compared with the same period in 2020. These are positive signs amid the complicated development of the Covid-19 pandemic and ailing business operations.

Besides, over 4,600 businesses resumed operations, down over 29% over the previous month.

Overall, during the first two months of the year, the country recorded over 18,000 newly-established businesses with the total registered capital reaching over VND330 trillion, up 4% in volume and some 52% in capital value year-on-year.

Also, in the two-month period, more than 11,000 businesses resumed operations, down 7.6% year-on-year. The number of businesses temporarily stopping operations for a certain period, halting operations pending dissolution, or completing procedures for disbandment exceeded 33,000 units.

GSO said that businesses completing procedures for disbandment mainly operated in the fields of retail, automobile and motorbike repair, the processing industry and construction, among others.

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