Nearly 132,000 new businesses established in 10 months

According to the General Statistics Office, in October 2023, the country had more than 15,400 newly established enterprises. The registered capital was 125.8 trillion VND. The number of registered employees was nearly 131,600 employees. An increase of 21.7% in the number of enterprises, 7.4% in registered capital and 64.3% in the number of employees compared to September 2023. Compared to the same period last year, the number of enterprises increased by 18.5%, the registered capital increased by 17.7% and the number of employees increased by 71.2%.

The average registered capital of a newly established enterprise in the month reached VND8.2 billion, down 11.7% compared to the previous month and down 0.6% compared to the same period last year. In addition, the whole country also had 5.6 thousand enterprises returning to operation, down 3.1% compared to the previous month and up 44.2% compared to the same period in 2022.

In the first 10 months of 2023, the whole country had 131,800 newly registered enterprises. The total registered capital was nearly 1,212.6 trillion VND. The total number of registered employees was 880,000 employees. An increase of 4.7% in the number of enterprises, a decrease of 12.1% in registered capital and an increase of 5.4% in the number of employees compared to the same period last year. The average registered capital of a newly established enterprise in the first 10 months of 2023 reached 9.2 billion VND, a decrease of 16.1% compared to the same period in 2022.

The total registered capital added to the economy in the first 10 months of 2023 was VND2,861.4 trillion, down 31.4% over the same period last year. Of which, the registered capital increased by enterprises increasing capital was VND1,648.7 trillion, down 41%.

In addition, 51,900 enterprises returned to operation (down 1.5% compared to the same period in 2022), bringing the total number of newly established enterprises and enterprises returning to operation in the first 10 months of 2023 to 183,600 enterprises, up 2.9% over the same period last year. On average, nearly 18,400 enterprises were newly established and returned to operation per month.

By economic sector, in the first 10 months of this year, there were 1,427 newly established enterprises in the agriculture, forestry and fishery sector, down 15.3% over the same period last year. 31,300 enterprises in the industry and construction sector, up 0.8%. More than 99,000 enterprises in the service sector, up 6.4%.

Also in October, 5,501 enterprises registered to temporarily suspend business, up 33.4% over the previous month and up 35.6% over the same period in 2022. 4,898 enterprises stopped operating pending dissolution procedures, down 7.1% and up 16.6%. 1,501 enterprises completed dissolution procedures, up 4.2% and down 6.3%.

In the first 10 months of 2023, the number of enterprises temporarily suspending business was 81 thousand, an increase of 22.1% over the same period last year. 50.7 thousand enterprises stopped operating pending dissolution procedures, an increase of 25.9%. 14.7 thousand enterprises completed dissolution procedures, a decrease of 4.5%. On average, 14.7 thousand enterprises withdrew from the market per month.

Source