Some 18,703 new enterprises were established in Vietnam in the first two months of this year, with total registered capital of more than VND197.3 trillion ($8.66 billion).

Prime Minister Nguyen Xuan Phuc visited enterprises in Hoa Lac Hi-Tech Park on Feb 22, 2018

Numbers were up 29.4 per cent and capital 29.3 per cent compared to the same period last year, according to the Ministry of Planning and Investment (MPI).

There were 7,864 enterprises established in February, with total registered capital of VND99 trillion ($4.35 billion), up 44 per cent and 59 per cent, respectively, year-on-year.

Average registered capital in each enterprise established in February was VND12.6 billion ($553,733), an increase of 10.5 per cent against February last year. The number of workers employed at newly-established enterprises in February was 71,120, up 13.8 per cent year-on-year.

The number of new enterprises in February was, however, down 27.4 per cent compared to January, due to the Tet holiday.

More than 2,300 enterprises resumed operations in February, while 2,677 ceased operations or were awaiting dissolution and 975 others completed dissolution procedures.

Average registered capital in each new enterprise in January and February was VND10.5 billion ($461,444), down 0.1 per cent year-on-year.

The number of workers at new enterprises in the first two months was 156,410, down 6.1 per cent year-on-year.

More than 6,800 enterprises resumed operations in the two-month period, a 13.8 per cent decline year-on-year.

The number of enterprises that ceased operations in the first two months rose 29 per cent to 11,191. New enterprises were mostly in sectors such as wholesale, retail, repairs, automobiles, construction, manufacturing and processing, and consultancy./.

VNF/VET