Around 11,000 new companies set up in May nationwide

There were around 11,000 newly established enterprises in the country with total capital of VND 119.2 trillion($5.2 billion), said the General Statistic of Vietnam .

More new companies set up in May nationwide (Illustrative Photo: SGGP)

More new companies set up in May nationwide (Illustrative Photo: SGGP)

The figure shows an increase of 9.3 percent in the number of enterprises and an increase of 17.8 percent in the registered capital compared to same period last year.

Averagely, the registered capital of a company is VND10.9 billion, representing a year-on-year rise of 7.8 percent.

Generally, in the first five months of this year, the country has 50,534 new enterprises with total capital of VND485.6 trillion, a year-on-year rise of 12.9 percent in the number of companies and of 39 percent in the registered capital.

It will be VND1,196 trillion including VND710.8 trillion of additionally registered capital of enterprises in first five months in the country. 

Moreover, 13,458 firms resumed operations in May, an increase of 3.5 percent compared to same period last year, bringing total number of companies to nearly 64,000 firms during first five months.

The number of laborers in the registered companies in the five months was more than 521,000

In five months, the number of firms that have either suspended or shut down operations surged by 0.9 percent compared to same period last year. 

By ANH PHUONG - Translated by UYEN PHUONG

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