Thousands of businesses set up in two months

Approximately 10,869 companies registered to begin trading in the first two months of this year with combined capital of VND62.9 trillion, up 13.1% in number and 28.4% in value against the same period last year.

Approximately 10,869 companies registered to begin trading in the first two months of this year with combined capital of VND62.9 trillion, up 13.1% in number and 28.4% in value against the same period last year.

Illustrative photo. Approximately 10,869 companies registered to begin trading in the first two months of this year

The Ministry of Planning and Investment (MPI) reported all economic regions across the country experienced increasing numbers of new businesses, with midland and north mountainous provinces having 416 new businesses, up 20.9%, and the central highland region 754 new companies, up 177.2%.

Most economic sectors enjoyed growth in the number of newly established businesses compared to last year, such as electricity, water and gas production and distribution (59.6%), agro-forestry and seafood (41.9%), logistics (28.4%) and information and communications (26.2%).

However, a considerable decline was recorded in such sectors as construction, employment services, tourism, machinery and equipment renting, support industries, science-technology, consultation services, design, and advertisement.

New companies are expected to recruit around 102,419 new workers, accounting for an annual increase of 16.4%.

In addition, 13,124 businesses ceased operation or went bankrupt over the past two months, of which 1,891 were dissolved and 11,233 went bust, an increase of 12.2% from the previous year.

About 3,640 businesses resumed operation, including 1,515 in the south-east region and 1,078 in the Red River Delta.