Over 29,000 New Companies Established in Q1, 2021

11:32:16 AM | 2/4/2021

Vietnam had 29,300 new companies with a total registered capital of VND447.8 trillion (US$20 billion) in the first quarter of 2021, which hired 245,600 workers, up 1.4% in companies, 27.5% in value and in 0.8% employees from a year earlier, according to the General Statistics Office (GSO).

Newly founded companies average registered capital of VND15.3 billion, up 29.2% year on year. Including the VND525.3 trillion (nearly US$23 billion) added by 9,600 existing enterprises, the total registered value reached VND973.1 trillion in the first three months of 2021.

In addition, 14,700 enterprises resumed operation, down 0.5% from the same period of 2021, bringing the total number of newly established companies and resumed companies to 44,000 in the reporting period. On average, each month saw nearly 14,700 companies starting operations.

From January to March, 40,300 enterprises suspended their operations for a definite period, stopped operations or settled bankruptcy procedures, 15.6% more than a year ago, including 23,800 enterprises temporarily suspending their business for a given term (up 28.2%), 11,300 enterprises ending their operations and waiting for dissolution procedures (down 7.3%), and 5,200 enterprises completing dissolution procedures (up 26.4%). On average, 13,400 enterprises withdrew from the market each month.

By Ha Thu, Vietnam Business Forum