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Thursday, April 25, 2024

Vietnam expects 162,500 new businesses to emerge in 2024

The Saigon Times

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HCMC – The General Statistics Office (GSO) has projected that 162,500 new businesses will enter the market this year, up by 2% compared to the previous year.

An estimated 68,000 suspended businesses may resume operations, a 16% increase against last year.

The GSO’s projections are based on an analysis of business registration trends in 2023 and a review of local and global economic prospects for the year.

Vietnam’s economy is expected to maintain its recovery momentum, benefiting from policy incentives introduced in 2023. Woes faced by investment projects, the property market, and corporate bond issuing organizations are also seen diminishing in the near future.

Nevertheless, the GSO cautioned that global and regional economic uncertainties could still weigh on various sectors of Vietnam’s economy, including production, industry, trade, and foreign investment.

The number of businesses that might pull out of the market this year is forecast to increase by 3.5% compared to the previous year to 178,000.

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