Thu. Mar 28th, 2024

More
than 80,800 enterprises entered into or returned to Vietnam’s business
scene in the first seven months, with the sectors of real estate and
healthcare seeing the most impressive increases in new companies.


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Over 64,100 companies were launched and 16,700 others resumed
operations in the period, according to the Business Registration Agency
under the Ministry of Planning and Investment.

In July alone, the country has more than 9,600 startups and 1,800 enterprises getting back into business.

The startups in the first seven months have total registered capital of
VND497 trillion (US$22.2 billion), up 23.3% and 54.7% year-on-year,
respectively. In comparison, this time last year the increases were
22.7% and 22.4%.

Additional capital of existing companies was much higher than the
combined registered capital of new businesses, topping VND894.9 trillion
(US$39.9 billion). That means a total of VND1,391.9 trillion (US$62.5
billion) in capital has been registered so far this year.

An enterprise registered average capital of VND7.7 billion (US$343,443), up 25.4% over the same period of last year.

Most sectors have experienced a business boom. Particularly, the number
of new companies in real estate rose 108.7%, followed by the health
sector with 80.2%, education and training 42.2%, science and technology,
consulting services, design, advertising, and other sectors 37%.

In contrast, there were only 806 startups in the art, entertainment and
recreation sector, down 31.2% from the same period last year.

Registered capital in some sectors has also spiked. The real estate
sector’s capital soared 301.8% to VND120.3 trillion (US$5.4 billion),
mining up 264% to VND19.8 trillion (US$883.1 million), and information
and communications up 207.1% to VND16.5 trillion (US$739 million).

However, registered capital in the construction sector dropped 14.5% to
VND70.15 trillion (US$3.1 billion), and wholesale, retail, and auto and
motorbike repair down 9.3% to VND70.3 trillion (US$3.1 billion).

The new enterprises are expected to employ around 744,300 people, up
0.13% year-on-year. Of these, the processing-manufacturing sector is
expected to hire 346,000 workers, wholesale, retail, auto and motorbike
repair nearly 135,8890 workers, and construction more than 68,840.

According to the Business Registration Agency, 6,442 enterprises
completed procedures for dissolution and 22,550 others suspended
operations or shut down during the period.

SGT

By vivian