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Ho Chi Minh City
Tuesday, December 6, 2022

Over 31,000 HCMC-based firms close in 2021

By Le Hoang

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HCMC – HCMC saw nearly 31,660 businesses shut down either temporarily or permanently in 2021 due to the impact of the Covid-19 pandemic, accounting for 26.4% of the country’s total firms that withdrew from the local market last year.

The number of firms in the city that pulled out of the market in 2021 inched down 2.6% year-on-year, according to data from the Agency for Business Registration under the Ministry of Planning and Investment.

The data indicated that more than 15,620 enterprises in the city temporarily suspended their business activities in 2021, up 13.2% year-on-year.

The city saw the number of firms returning to the market in 2021 edge up 2.1% year-on-year, while the country saw over 43,110 firms resume operations last year, down 2.2% year-on-year.

In 2021, over 32,340 firms were newly established in HCMC with pledged capital of some VND505.7 trillion, down 21.9% and 55.3% year-on-year, respectively.

The number of newly established firms in the country fell by 13.4% year-on-year at nearly 116,840, the lowest since 2017, with total registered capital of over VND1,610 trillion, down 27.9% year-on-year.

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