Enterprise establishment increased sharply in Q1 despite COVID-19's impact

Despite the impact of COVID-19 on the national economy, enterprise establishment rose sharply in Q1: Up to 29,700 new firms were founded in Vietnam.
March 31, 2020 | 13:26
enterprise establishment increased sharply in q1 despite covid 19s impact How to successfully transfer control to the next generation in a family business
enterprise establishment increased sharply in q1 despite covid 19s impact Steps to Create your Destiny and Live with Values - "Women in Business" by Phuong Uyen Tran
enterprise establishment increased sharply in q1 despite covid 19s impact 7 steps to keep your business going amid the COVID-19 crisis
enterprise establishment increased sharply in q1 despite covid 19s impact
A GSO survey on the business sentiment in the manufacturing and processing sector showed that 39 per cent of enterprises predicted positive outlook for their operation in the second quarter compared to the first quarter. (Photo source: VNA)

Up to 29,700 new firms were established in Vietnam in the first quarter of this year with total registered capital of more than VND351 trillion (US$15 billion), up 4.4 per cent in the number of enterprises but down 6.4 per cent in capital compared to the same period last year.

Average registered capital per newly-established enterprise reached VND11.8 billion during the period, down 10.4 per cent year-on-year, according to the General Statistics Office (GSO).

Most of the newly-established enterprises specialised in the fields of wholesale, retail and automobile repair with 10,015 enterprises, up 7 per cent year-on-year, followed by those in the construction sector with 3,941, up 4 per cent and those in manufacturing and processing with 3,685, up 2 per cent.

The total number of labourers of newly-established enterprises in January-March was 243,700, down 23 per cent year-on-year, the GSO said.

The first three months saw 14,800 enterprises resume operation, down 2 per cent against last year’s corresponding period, bringing the total number of newly-registered and revived enterprises in the period to nearly 44,500.

According to the office, the number of enterprises temporarily ceasing operation in the period witnessed a yearly hike of 26 per cent to 18,600 due to the impacts of the COVID-19 pandemic. However, the number of enterprises which finished procedures for bankruptcy in the period fell1.3 per cent year-on-year to 4,100.

A GSO survey on business sentiment in the manufacturing and processing sector showed 39 per cent of enterprises predicted a positive outlook for their operation in the second quarter compared to the first quarter while 26 per cent foresaw more difficulties and 35.3 per cent expected business stability.

enterprise establishment increased sharply in q1 despite covid 19s impact Coronavirus latest news, March 31: the world saw unstoppable increase of deaths daily, how to deal?

On Tuesday morning, March 31, the world has recoreded 785,712 infections and 37,814 deaths , also 165,606 recoveries. The Covid-19 disease has spread to 200 ...

enterprise establishment increased sharply in q1 despite covid 19s impact An American returning home from Vietnam shocked with homecountry’s COVID-19 response

Paul Neville and his family fled Vietnam when the US warns all Americans abroad to immediately return the United States, but was taken aback seeing ...

enterprise establishment increased sharply in q1 despite covid 19s impact Bach Mai Hospital to set up field hospital after its lockdown

The makeshift hospital is set up inside Bach Mai Hospital's campus Saturday night by Vietnamese army, as part of the hospital’s contingency plans to get ...

vietnamnews.vn
Phiên bản di động