HCM City welcomes more than 29,900 newly established firms
An additional 29,921 new enterprises were established in Ho Chi Minh City this year by mid-September, with total capital exceeding 396 trillion VND (17.4 billion USD).
An additional 29,921 new enterprises were established in Ho Chi Minh City in the first nine months of the year. (Photo: baocongthuong.com.vn)
HCM City (VNA) – An additional 29,921 new enterprises were establishedin Ho Chi Minh City this year by September, with total capital exceeding396 trillion VND (17.4 billion USD).
Although the number of new firms rose only 13 percent, registered capitalsurged 84.5 percent year on year.
Some 44,087 enterprises registered to change their fields of business in theperiod with total additional capital of more than 218 trillion VND (9.6 billionUSD), up 11.2 percent in number of businesses and 49.6 percent in capital fromlast year.
Of the new firms, one-member limited companies made up the highest proportion(58.6 percent) with 17,546 enterprises, followed by two-member limitedcompanies (28 percent) with 8,387 enterprises, joint-stock companies (11.9percent) with 3,581 enterprises, and private firms (1.4 percent) with 404enterprises.
In terms of sectors, real estate had the largest pool of newly establishedcompanies (39.5 percent) with total registered capital of nearly 156.7 trillionVND (6.9 billion USD). The retail, automobile repair and motorbike industriesalso occupied a high proportion (16.2 percent) with total capital of more than64.3 trillion VND (2.8 billion USD).
In order to have 500,000 enterprises by 2020, the city is working to transformhousehold businesses into enterprises. To date, nearly 1,400 home businesseshave switched into companies.-VNA
The southern economic hub of Ho Chi Minh City lured 443.1 million USD in foreign direct investment (FDI) in the first two months of 2017, a year-on-year rise of 61.3 percent.
An additional 22,972 new enterprises were established in HCM City in the first seven months of the year with a combined registered capital of 297 trillion VND (13 billion USD).
More than 29,900 enterprises were established with total registered capital of nearly 396.5 trillion VND (17.44 billion USD) in HCM City in the first nine months of the year, according to the city’s People’s Committee.
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The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
An additional 29,921 new enterprises were established in Ho Chi Minh City in the first nine months of the year. 
