Over 96,600 new firms established in nine months

More than 96,600 new enterprises were founded in the first nine months of 2018 with a total registered capital of 963.4 trillion VND (41.3 billion USD), representing year-on-year rises of 2.8 percent and 6.7 percent, respectively.

The average registered capital was 10 billion VND (428,000 USD) each firm, up by 3.8 percent, General Director of the General Statistics Office (GSO) Nguyen Bich Lam said on September 28.

Together with more than 1.88 trillion VND worth of additional capital by exiting firms, a total of nearly 2,845.3 trillion VND was poured into the economy in the first nine months of this year.

Besides, nearly 22,900 firms resumed operation in the period, up by 8.5 percent. However, the number of firms halting operations was alarming.

The GSO’s report about socio-economic development in the January-September period showed that more than 73,000 firms halted operation, up by 48.1 percent over the same period last year. Together with 11,500 companies that completed the procedures for dissolution in the period, most of the firms are those with capital of below 10 billion VND. This meant that on average 270 firms halted or stopped operations each day.

A GSO survey founded that firms in the manufacturing and processing industry have different views about the business prospects in the remaining months of this year.

About 52 percent of the surveyed firms said that the trend would be positive while 35.8 percent saw the business would be stable and 11.7 percent forecast more difficult in the last quarter of this year.

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