Vietnam has more than 26,700 new firms in first quarter

More than 26,700 enterprises were established in Vietnam in the first three months of the year. (Photo: VNA)

The numbers were up 1.2 percent and capital rose 2.7 percent against the same time last year.

Average registered capital for each business exceeded 10 billion VND (440,000 USD). The firms employed 225,389 workers, down 22.7 percent year-on-year.

The number of new firms was concentrated mainly in the wholesale, retail, automobiles and motorbike repairing sectors with 9,200 companies, 34 percent of the total.

There were 3,600 enterprises in construction, or 13 percent, and more than 3,200 businesses in the manufacturing and processing industry, making up 12 percent.

Of the registered capital, real estate attracted the most with 79 trillion VND (3.48 billion USD), more than 28 percent of total capital. The construction sector came second with more than 42 trillion VND (1.85 billion USD) or 15 percent, followed by the wholesale, retail, automobiles and motorbikes repairing sectors with 38.5 trillion VND (1.69 billion USD) or 13.8 percent.

Also in the period, some 8,449 enterprises resumed operations while 8,115 ceased operations or were awaiting dissolution and 3,321 others completed dissolution procedures./.

VNA