On July 29, 2023, the General Statistics Office of Vietnam released the report on the socio-economic situation in July and the first 7 months of 2023. The report revealed a significant increase in the number of enterprises withdrawing from the market compared to the same period last year, indicating the challenging operational conditions businesses are facing amid the current fluctuations.
According to the report, Vietnam witnessed the establishment of 13.7 thousand new enterprises in July. This figure showed a decline of 1.2% from the previous month but represented a 4.3% increase compared to the same period last year.
Additionally, more than 7,000 enterprises resumed their operations, while 6,884 enterprises registered for temporary suspension of business. Furthermore, 5,257 enterprises stopped operating and initiated dissolution procedures, and 1,581 enterprises successfully completed the dissolution process.
During the first seven months of 2023, a total of 131.9 thousand enterprises were either newly established or resumed operations, indicating a 1.4% decrease compared to the same period last year. On average, there were 18.8 thousand new establishments and resumed operations per month.
On the other hand, the number of enterprises withdrawing from the market during the same period was 113.3 thousand, marking a significant increase of 19.8% over the previous year. On average, 16.2 thousand enterprises withdrew from the market each month.