Businesses now play an increasingly vital role in socio-economic development, contributing about 60% of the national GDP, accounting for 98% of the country’s total export revenue, and generating jobs for some 85% of the workforce nationwide.
The Purchasing Managers' Index (PMI) of the Vietnamese manufacturing sector rebounded above the 50.0 no-change mark, fostering hopes for a stable climate in which businesses can prosper.
The central province of Quang Binh’s Department of Planning and Investment has so far this year granted new registration certificates for the establishment of 435 enterprises, whose capital totals more than 5.24 trillion VND (213.26 million USD).
A record number of 103,658 new firms were established in the first eight months of this year, a rise of 2.3% year on year and 1.2 times higher than the average number for the same period during 2018-2022, reported the Ministry of Planning and Investment (MPI).
A total of 10,728 new firms were established in May with total registered capital of 112.7 trillion VND (4.83 billion USD), up 36.1 percent in number and 20.1 percent in capital from the previous month, according to the General Office of Statistics (GSO).
The number of new firms set up in Hanoi in the period from January-April dropped 13.1 percent from the same period in 2019 to 7,468, but the combined registered capital of new enterprises shot up 46.5 percent to over 118 trillion VND (nearly 5.1 billion USD).
Nearly 37,600 new firms were formed in Vietnam with a total registered capital of 445.2 trillion VND (19.1 billion USD) in the first four months of this year, down 13.2 percent in number and 18 percent in capital year-on-year due to the COVID-19 pandemic.
The northern province of Vinh Phuc has become popular among both domestic and foreign investors as a friendly and promising destination for successful projects.
The southern industrial hub of Binh Duong has not only been among leading localities in foreign direct investment (FDI) attraction but also an attractive destination for domestic investors.
More than 13,500 enterprises suspended operation for fixed periods during the first two months of this year, up 20.8 percent compared to the same period in 2018, according to the General Statistics Office (GSO).
The number of newly-established firms and firms resuming operations set a record in 2017 with more than 153,000 companies with total registered capital of 3.16 quadrillion VND (139 billion USD).
The southern industrial hub of Binh Duong reported 3,889 new firms in the January-September period, which pumped a total of 34.8 trillion VND (1.53 billion USD) in registered capital into the local economy.
As many as 72,953 new enterprises were established in the first seven months of this year with a total registered capital of 690.74 trillion VND (30.39 billion USD).
Some 14,450 firms were newly established in the country in the first two months of this year, a year-on-year increase of 3.9 percent, the General Statistics Office (GSO) reported.
As many as 9,918 enterprises with total registered capital of 87.1 trillion VND (3.83 billion USD) were established nationwide in November, according to the Department of Business Development.
Vietnam has seen a sharp surge in the number of newly established enterprises since two new laws on investment and enterprises took effect on July 1, 2015.
Some 64,000 enterprises were created in the first seven months of this year with a total registered capital of nearly 497 trillion VND (22.36 billion USD), according to statistics from the GSO.
