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Over 165,000 firms set up and back to business in Jan-Sept

The Saigon Times

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HCMC – The first nine months of the year have seen a total of 165,520 firms entering the market and resuming their operations across the country, up 1.2% year-on-year, according to a report from the General Statistics Office.

In September alone, 12,684 enterprises have been established, up by 10.6% compared to the same period last year. These businesses have total registered capital of VND117,200 billion, down 13.9%, and employ 80,000 people, up 29.3% versus last year.

Throughout the first nine months, 116,300 new businesses have entered the market, pledging a total of VND1,086,800 billion and providing jobs for 748,900 people. While the number of newly established businesses is up by 3.1%, the registered capital is down by 14.6%, and the number of employees is down by 1.2% against the previous year.

Around 48,900 firms have resumed their operations after their suspension, down 3.2% year-on-year.

The average registered capital for newly-established enterprises in the nine-month period stands at VND9.3 billion, a 17.2% decrease over the year-ago period.

In the year to date, 75,800 firms have suspended their business operations, soaring 21.2% compared to the same period last year. Meanwhile, 46,100 firms have halted their operation pending liquidation, up 26.9% and 13,200 firms have completed their liquidation process, down 4.3% in the period.

On average, around 15,000 firms have pulled out of the market a month from January to September.

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