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Vietnam has nearly 99,000 new market entrants, re-entrants in Jan-May

By Truc Dao

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HCMC – Vietnam has seen 98,825 businesses entering the market and resuming operations so far this year, a 4.1% increase against last year.

In January-May, 97,299 businesses have exited the market across the country, a 10.5% year-on-year increase.

The registered capital of newly-established businesses reached VND601,220 billion, up by 5.7% versus last year.

According to the Agency for Business Registration, out of 17 industries, 10 have experienced a surge in new market entrants. The transportation and warehousing industry has seen the most significant growth at 20.8%. Other industries such as retailing, wholesale, manufacturing, electricity, and the distribution of water and gas also expand in the number of registered businesses.

Sectors like accommodation and food services, and healthcare and social assistance have experienced the most significant decline in new business registrations, down by 15.1% and 16.2%, respectively.

The General Statistics Office of Vietnam’s latest report shows that in May 2023 alone, 13,207 new businesses have been registered, along with 6,749 businesses resuming operations. In contrast, 11,391 businesses have withdrew from the market this month.

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