Vietnam sees 15pc fewer new enterprises in first 11 months of this year

Some 105,600 enterprises were formed in Vietnam in the first 11 months of this year, posting a decline of 15-per-cent year-on-year, according to the country’s General Statistics Office yesterday.
People are seen at a hair salon in Hanoi. PHOTO: XINHUA
People are seen at a hair salon in Hanoi. PHOTO: XINHUA

Registered capital of the new enterprises totalled more than VND1,454 trillion (USD64 billion), down 22.6 per cent on year, said the office.

New firms establishment in the agriculture, forestry and fishery sector fell 25.2 per cent, while that of industry and construction down 24 per cent and services sector down 10.7 per cent.

Between January and November, some 14,900 enterprises were dissolved due to different difficulties, down 3.7 per cent.

In November alone, over 11,900 firms were formed nationwide, surging 44.6 per cent against October thanks to easing COVID-19 restrictions and government’s efforts to resume economic activities, according to the office.

Last year, Vietnam saw some 134,900 enterprises established with total registered capital of over VND2,235.6 trillion (USD97.2 billion), down 2.3 per cent in quantity and up 29.2 per cent in capital against 2019.