Nearly 11,000 businesses established in January

Nearly 11,000 businesses registered to establish in January with the total capital of VND98.3 trillion (US$4.32 billion), a year on year increase of 20.6 percent in number and 8.9 percent in capital.

Businesses are concentrating on production for the Tet holiday (Photo: SGGP)

Businesses are concentrating on production for the Tet holiday (Photo: SGGP)

According to the General Statistics Office of Vietnam, registered capital averaged VND9.1 billion ($400 million) an enterprise, down 9.7 percent.
In addition, companies registered to increase their registered capital by VND218.1 trillion, taking the total capital supplemented to the economy in January to VND316.4 trillion ($13.89 billion).
Industrial production index was estimated to hike 20.9 percent over the same period last year because the Lunar New Year Festival does not fall in January like 2017. Businesses are now focusing on production for Tet consumption.
Of these, manufacturing and processing sector surged 23.8 percent, electricity production and distribution went up 15.5 percent, mining 10.5 percent, water supply and waste treatment 6.8 percent.
The index increased 15 percent in HCMC, 14.7 percent in Hanoi, 9.1 percent in Ba Ria-Vung Tau province, 8.8 percent in Dong Nai, 8.7 percent in Can Tho, 48.7 percent in Da Nang and 47.2 percent in Bac Ninh province.

By ANH PHUONG – Translated by Hai Mien

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