More than 14,000 enterprises established in Vietnam in two months

More than 14,450 enterprises were set up in the first two months of this year, with a total registered capital of over VND152.5 trillion (US$6.71 billion), up 3.9% in terms of number of enterprises and 35% in terms of registered capital over the same period in 2016, according to the Business Registration Management Agency.

The average registered capital per new enterprise reached VND10.6 billion (US$466,000), an increase of 29.9% against the same period of last year.

However, in February alone, more than 5,400 enterprises were established, with VND62.2 trillion (US$2.74 billion) worth of registered capital, a decrease of 39.3% in the number of enterprises and 31% in registered capital compared to January.

The fall in number of newly established enterprises was due to a long Tet holiday in late January and early February.

The first two months of this year also saw more than 7,900 enterprises resume their operations, up 7.6% compared to the corresponding period last year.

In the meantime, about 2,500 enterprises were dissolved, up 14.9% compared to the same period of 2016, including more than 2,300 enterprises with a registered capital of less than VND10 billion (US$440,000) while more than 16,300 enterprises registered to suspend operations.

The sectors that attract the participation of a large number of labourers include the processing and manufacturing industry, wholesale and retail sales, automobile and motorcycle repairs and construction, among others.