November 23, 2020 23:19 | About us
Language: Tiếng Việt | ພາ​ສາ​ລາວ | ខ្មែរ | русский | 中文

New enterprises established in Vietnam while others close every month due to COVID-19

October 31, 2020 | 16:30

In the first ten months of 2020, as many as 85,600 enterprises had to close and 111,200 new enterprises were established.

japanese enterprises want to expand supply chains in vietnam Japanese enterprises want to expand supply chains in Vietnam
da nang southeast asian silicon valley attractive to japanese firms Da Nang – Southeast Asian Silicon Valley – attractive to Japanese firms
ten thousands of enterprises in vietnam closed after 9 months due to covid 19 Ten thousands of enterprises in Vietnam closed after 9 months due to COVID-19

According to the General Statistics Office's report on the socio-economic situation, in October, there were 12,200 newly established enterprises with the registered capital of VND 165,600 billion (US$7,100 mln), up 18.4% regarding the number but down 18.5% regarding the value of registered capital, Zing News reported.

"The situation on business registration in October showed positive signs compared to the previous month", said the General Statistics Office.

5954 1
Shops in Hanoi close during social distancing time. Photo: Giang Huy/ VNExpress

Generally, in the first ten months of 2020, there were 111,200 newly established enterprises with a total registered capital of VND 1,594 billion (US$68,8 mln). The average registered capital of a newly established enterprise reached VND 14.3 billion (US$ 617,2 mln).

There were 37,700 enterprises returning to operation, 41,800 enterprises registering to suspend business for a definite period; 30,300 waiting for dissolution, and 13,500 completing dissolution procedures.

Thus, in the first ten months, 85,600 enterprises closed, representing a 15.1% year-on-year increase. On average, about 8,600 businesses had to close each month.

5957 2
COVID-19 has exerted bad impacts on Vietnamese enterprises. Photo: Viet Hung/via Zing News.

Meanwhile, the consumer price index (CPI) in October rose by 0.09% over the previous month, mainly due to the increase in the price of education services and the impacts of storms and floods in the central region.

The increase of 0.09% of CPI in October is the lowest increase in the 2016-2020 period. The average CPI in the first ten months increased by 3.71% over the same period last year.

Core inflation in October increased by 0.07% over the previous month and by 1.88% over the same period last year. The average core inflation in the first ten months rose by 2.52% over the same period in 2019.

The gold price index in October declined by 1.1% over the previous month but increased by 30.91% and 29.63% over December 2019 and the same period last year respectively. The USD price index in October increased by 0.07% over the previous month and decreased by 0.13% over the same period last year.

more italian enterprises invest in vietnamese textile industry

More Italian enterprises invest in Vietnamese textile industry

More and more Italian textile firms are investing in Vietnam to take advantage of the EU-Vietnam Free Trade Agreement (EVFTA) and export to the European ...

the government to shoulder the burden with enterprises

The Government to shoulder the burden with enterprises

No new projects have been guaranteed by the Government since this March but nearly US$52 million has been allocated to two build-transfer transport projects, which ...

japan firms line up for subsidiaries to leave china

Japan firms line up for subsidiaries to leave China

In a 2019 survey of Japanese companies by the Japan External Trade Organization, which used manufacturing costs in Japan as the base of 100, costs ...

Malie Nguyen