Over 79,000 new firms established in first seven months

Monday, 2019-07-29 17:56:07
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NDO – There have been a total of 79,300 new enterprises established across the country in the first seven months of this year with a registered capital of over VND999 trillion, an increase of 4.6% in the number of enterprise and nearly 30% in capital compared to the same period last year.

This information was revealed by the General Statistics Office (GSO) on July 29.

Accordingly, the average capital size of domestic enterprises has reached VND12.6 billion, up 24%, the highest level in recent years.

In addition, there were 24,300 enterprises returning to business, an increase of nearly 30% compared to the same period last year, bringing the total number of new enterprises established and enterprises returning to business in the seven months to over 103,000 businesses.

The number of jobs created by the newly-established enterprises in the seven month period reached 743,900, an increase of 19% over the same period last year.

However, in this period, there were 9,300 enterprises which completed procedures for dissolution or termination; meanwhile the number of enterprises that underwent temporarily suspending operations was 23,000.

In addition, 24,800 businesses halted operations due to not being registered or waiting for dissolution.

According to the GSO, Vietnam registered a trade surplus of US$1.8 billion in the first seven months of 2018.

Notably, the growth rate of export turnover of domestic enterprises in the seven first months reached 12.2%, higher than the growth rate of the foreign-invested sector (5.6%) and the proportion of domestic economic sector tended to increase, accounting for 30.3% of total export turnover (same period last year was 29%).

In the seven first months of 2019, import turnover is estimated at US$ 143.34 billion, up 8.3% over the same period in 2018, of which the domestic economic sector reaches US$ 60.83 billion, up 12, 6%; foreign invested sector reached US$ 82.51 billion, up 5.3%.

The US was the largest buyer of Vietnamese goods with US$32.5 billion, up 25.4%, followed by the EU and China, with their imports from Vietnam worth US$24.3 billion and US$20 billion respectively.

On the other side, China remained the largest source of Vietnam’s imports with US$42 billion. The Republic of Korea came second with US$26.6 billion and ASEAN third with US$18.1 billion.