Newly-established businesses in H1 exceed 70,000

Workers make garment products at Apparel Far Eastern Vietnam Co. in Binh Duong province. (Photo: VNA) 

This is the first time that the number of newly-established enterprises in the first six months has exceeded 70,000.

Data from the Business Registration Management Agency under the Ministry of Planning and Investment showed that 116,900 enterprises were entering or re-entering the market in the first half of 2022.

In terms of capital, although it declined by 6.4% over the same period last year, with a value of 882.1 trillion VND (37.92 billion USD), it was still 1.2 times higher than the average for 2017-2021.

The capital city of Hanoi and the southern largest economic hub of Ho Chi Minh City continued to record a significant increase in newly-established enterprises.

Accordingly, Hanoi has 14,628 newly-established enterprises, up 9.8% yearly.

HCM City has 22,469 newly established businesses, a year-on-year increase of 11.5%.

Meanwhile, the number of enterprises returning to operation in the first six months of this year was 40,667, an increase of 55.6% over the same period last year and 1.9 times higher than the average in 2017-2021.

In the opposite direction, 83,570 businesses withdrew from the market in the first six months of this year, a year-on-year growth of 19%.

Enterprises withdrawing from the market are mainly temporarily suspending their businesses, with 50,909 enterprises, accounting for 60.9%.

Enterprises temporarily suspending business were mainly in the fields of wholesale, retail, car and motorbike repairing (18,417 enterprises, accounting for 36.2%), construction (7,206 enterprises, 14.2%) and processing and manufacturing industry (5,948 enterprises, 11.7%)./.

VNA