146,000 businesses established since the beginning of the year, contributing 3,150 billion to the economy

According to data from the General Statistics Office, in November 2023, the country had 14,267 newly established enterprises with a registered capital of nearly 153.6 trillion VND and a registered number of nearly 93.7 thousand employees. The number of enterprises decreased by 7.6%, registered capital increased by 22% and the number of employees decreased by 28.8% compared to October 2023. Compared to the same period last year, the number of enterprises increased by 19.5%, registered capital increased by 47% and the number of employees increased by 26.6%.

The average registered capital of a newly established enterprise in the month reached 10.8 billion VND, an increase of 32% compared to the previous month and an increase of 23% compared to the same period in 2022. During the month, the whole country had 6,562 enterprises returning to operation, an increase of 16.6% compared to the previous month and an increase of 4.7% compared to the same period in 2022.

Newly established and dissolved enterprises in 11 months of 2023 classified by some fields of activity. Photo: General Statistics Office

In the first 11 months of 2023, the whole country had more than 146,000 newly registered enterprises. The total registered capital was 1,366.2 trillion VND and the total number of registered employees was 974.1 thousand employees. The number of enterprises increased by 6%, the registered capital decreased by 7.9% and the number of employees increased by 7.2% compared to the same period last year.

The average registered capital of a newly established enterprise in the 11 months of 2023 reached VND9.4 billion, down 13.1% over the same period last year. The total registered capital added to the economy in the 11 months was VND3,150.6 trillion, down 29.4% over the same period last year. Of which, the additional registered capital of enterprises increasing capital was nearly VND1,784.4 trillion, down 40.1%.

In addition, nearly 55,500 enterprises returned to operation, down 2.5% compared to 11 months of 2022. The total number of newly established enterprises and enterprises returning to operation in 11 months increased to 201,500 enterprises, up 3.5% over the same period last year. On average, there were 18,300 newly established and returning enterprises per month.

Business registration situation in 11 months of 2023 compared to the same period in 2022. Photo: General Statistics Office

By economic sector, in the first 11 months of this year, there were 1,621 newly established enterprises in the agriculture, forestry and fishery sector, down 11.5% over the same period last year. There were 34,700 enterprises in the industry and construction sector, up 2.6%. There were 109,700 enterprises in the service sector, up 7.5%.

Also in November, 4,510 enterprises registered to temporarily suspend business, down 18% compared to the previous month and up 12.6% compared to the same period in 2022. There were 6,598 enterprises that stopped operating pending dissolution procedures, up 34.7% and up 29.5%. There were 1,443 enterprises that completed dissolution procedures, down 3.9% and up 1.5%.

In the first 11 months of 2023, the number of enterprises temporarily suspending business was 85.4 thousand, an increase of 21.7% over the same period last year. Nearly 57.2 thousand enterprises stopped operating pending dissolution procedures, an increase of 26.3%. Approximately 16.2 thousand enterprises completed dissolution procedures, a decrease of 4%. On average, 14.4 thousand enterprises withdrew from the market per month.

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