Hanoi (VNA) - Vietnam recorded nearly111,200 new enterprises from January-October, a year-on-year decline of 2.9percent, according to the General Statistics Office (GSO).
The new entrants, however, have combined registered investmentof more than 1,594 trillion VND (68.3 billion USD), up 11.1 percent against thesame period last year.

Average registered capital per new enterprise was 14.3 billion VND, up 14.4percent.

Meanwhile, 32,600 operating enterprises registered to increase their capital bymore than 2,298 trillion VND in total. The economy therefore received a capitalinjection of more than 3,892 trillion VND from newly-established and existing enterprises,up 17 percent against the same period of 2019.

During the ten-month period, 37,700 companies resumed operations, up 8.2percent year-on-year. There were also nearly 41,800 businesses temporarilysuspending operations, nearly 30,300 firms waiting for dissolution procedures,and 13,500 companies completing dissolution procedures, up 58.7 percent, down12.4 percent, and up 0.1 percent, respectively.

Some 8,600 firms withdrew from the market each month on average.

Director of the GSO’s Department of Industrial and Construction Statistics PhamDinh Thuy said that businesses need to find suitable partners, work to removebottlenecks, and make good use of their capital.

He suggested the Government and the National Assembly consider exempting taxesand fees, extending payment periods, and raising credit growth ceilings forcommercial lending.

Companies should receive timely support to stabilise and develop theirproduction and business, he added.

The GSO proposed that the State have policies to encourage the importation ofequipment to expand production while reducing the importation of products whereVietnamese companies possess strengths.

Relevant authorities should work to help local businesses find import sources formaterials and spare parts, and encourage consumers to buy Vietnamese productsduring these tough times, he added./.