Over 12,400 new firms set up in August

As many as 12,404 new enterprises were set up in August with total capital of 131 trillion VND (5.76 billion USD), up 6.2 percent in volume and 39 percent in value, reported the General Statistics Office (GSO).

Illustrative Image (Source: VNA)

Illustrative Image (Source: VNA)

In the first eight months of this year, 85,357 firms were established with combined capital of 822 trillion VND (36.16 billion USD), up 16 percent and 44.8 percent over the same period last year, respectively.

Total capital pumped into the economy in the period was 1,930 trillion VND (84.92 billion USD), including 1,108 trillion VND added to nearly 24,700 existing firms.

The GSO revealed that 19,154 enterprises resumed their operation, an increase of 2.4 percent year on year.

Wholesale and retail sector drew the largest new businesses with 30,700 firms, followed by construction sector with 11,000 enterprises and processing-manufacturing sector, 11,000 firms.

In eight months, the northern midland and mountainous regions saw the highest rise in new firms, with 3,700 enterprises, up 31.8 percent, and the Central Highlands region, with 2,200 firms, a rise of 25.4 percent.

The GSO also reported that the number of dissolved enterprises in eight months were 7,754, an increase of 3.7 percent year on year, including 7,146 firms with capital of 10 billion VND, accounting for 92.2 percent.

At the same time, 45,776 firms halted their operation, a rise of 13.3 percent, including 28,545 enterprises waiting for dissolving.

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(Illustrative photo: SGGP)

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