Manufacturing News 15/05/2024, 02:38

Number of Newly Established Enterprises Increases in First 4 Months of 2024

In 4 months, Vietnam had an increase in both the number of newly established enterprises and registered capital.

Number of Newly Established Enterprises Increases in First 4 Months of 2024

On April 29, the General Statistics Office announced a report on enterprise registration status for the first 4 months of 2024. Accordingly, in April 2024, the whole country had more than 15.3 thousand newly established enterprises with a registered capital of 175.8 trillion VND, an increase of 8.4% in the number of enterprises and an increase of 55% in registered capital compared to March 2024.

In the first 4 months of 2024, the whole country had 51.6 thousand newly established enterprises with a total registered capital of nearly 508 trillion VND, an increase of 3.4% in the number of enterprises and an increase of 9.3% in registered capital compared to the same period last year.

Enterprises entering and withdrawing from the market in the first 4 months of 2024 (source: GSO)

The average registered capital of a newly established enterprise in the first 4 months of 2024 reached 9.9 billion VND, an increase of 5.7% over the same period in 2023. If including 533.4 trillion VND of additional registered capital from 14,143 enterprises increasing capital, the total additional registered capital into the economy in the first 4 months of 2024 was 1,041.3 trillion VND, a decrease of 2.6% over the same period last year.

In addition, there were more than 29.7 thousand re-operated enterprises (up 2.4% over the same period in 2023), increasing the total number of newly established enterprises and re-operated enterprises in the first 4 months of 2024 to 81.3 thousand enterprises, an increase of 3% over the same period last year. On average, each month, there were 20.3 thousand newly established and re-operated enterprises.

By economic sector, in the first 4 months of this year, there were 507 newly established enterprises in the agriculture, forestry and fishery sector, an increase of 1.2% over the same period last year; 12.5 thousand enterprises in the industry and construction sector, an increase of 4%; and 38.6 thousand enterprises in the service sector, an increase of 3.2%.

Also in April 2024, there were 7,618 enterprises temporarily ceased for a certain time, an increase of 84.1% over the previous month and an increase of 6.4% over the same period in 2023; there were 4,656 enterprises temporarily ceased and awaited dissolution procedures, a decrease of 6.5% and a decrease of 20.2%; there were 1,344 enterprises completed dissolution procedures, a decrease of 4.8% and a decrease of 10.9%.

In the first 4 months of 2024, the number of enterprises that temporarily ceased for a certain time was 60.9 thousand, an increase of 21.9% over the same period last year; 19.1 thousand enterprises temporarily ceased and awaited dissolution procedures, a decrease of 9%; and 6.4 thousand enterprises completed dissolution procedures, an increase of 4.9%.

On average, each month, 21.6 thousand enterprises withdrew from the market, but only 20.3 thousand were newly established and re-operated.

CafeF / Translator: Hoàng Trúc
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