Nearly 9,000 new companies launched in Vietnam in January
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A strong start for the economy in the new year after a record high number of new openings in 2016. Vietnam’s business community has hit the grounds running in the new year. Official reports showed that 8,990 companies opened in January, up 8 percent from last year. Their registered capital surged 52.3 percent to VND90.3 trillion ($4 billion) in total.
The new companies are expected to create 104,100 jobs. In comparison, there were 8,320 new companies with 124,000 new jobs in January last year.
Nearly 5,600 suspended companies also resumed operations last month.
The number of businesses shutting down increased 18.3 percent year-on-year to 1,583.
Vietnam hopes to see over one million businesses in operation by 2020. It is now halfway to that point.
The country saw a record number of business openings of 110,000 last year, strengthening hopes for robust growth and strong investment in the near future.
Officials from the labor ministry reportedly said that Vietnam aims to create 1.6 million jobs this year, roughly the same figure last year.
More than 3 percent of the country’s urban adults are unemployed while the rural rate is nearly 2 percent.
Questions & Answers
Q.What was the total registered capital for the new companies that launched in January?
What was the total registered capital for the new companies that launched in January?
The total registered capital for the nearly 9,000 new companies launched in January surged to VND90.3 trillion ($4 billion). This represents a significant 52.3 percent increase from the previous year.
Q.How many jobs are the new companies launched in January expected to create?
How many jobs are the new companies launched in January expected to create?
The new companies that opened in January are expected to create 104,100 jobs. This is fewer than the 124,000 jobs created by new companies in January of the previous year.
Q.How many businesses ceased operations in January compared to the previous year?
How many businesses ceased operations in January compared to the previous year?
The number of businesses shutting down in January increased by 18.3 percent year-on-year, reaching 1,583. This indicates a rise in closures despite the strong number of new openings.
Q.What is Vietnam's target for the number of operating businesses by 2020?
What is Vietnam's target for the number of operating businesses by 2020?
Vietnam hopes to see over one million businesses in operation by 2020. The country is currently halfway to achieving this ambitious target, having seen a record number of openings last year.
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