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Ho Chi Minh City
Wednesday, May 18, 2022

Q1 sees 34,600 new businesses established

The Saigon Times

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HCMC – Vietnam saw around 34,600 new businesses entering the market in the first quarter of 2022, up 18% year-on-year, according to the General Statistics Office.

The new market entrants have total registered capital of VND471.2 trillion, up 5.2% year-on-year, and nearly 243,500 employees, down 0.9%, the local media reported.

In March alone, 14,300 firms were established, with total pledged capital reaching VND193.6 trillion, up a staggering 96% month-on-month.

Between January and March, 25,600 enterprises resumed their operations, up 74% year-on-year, taking the total firms operating in the local market to 60,200, up 37% year-on-year.

However, the country also saw 35,700 firms suspend their operations during the three-month period, double the figure in the same period last year. In addition, some 11,300 other enterprises halted their operations pending dissolution.

In the first quarter of 2022, 4,300 others completed procedures for disbandment, down 17% year-on-year.

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