Around 7,500 businesses in Vietnam were dissolved in the first eight months of this year due to business difficulties, up 3.5% on-year, the General Statistics Office said in a report.
According to the report, most of the dissolved businesses were limited and private firms which have an averaged registered capital of below VND10 billion (USD476,190).
Around 7,500 businesses in Vietnam were dissolved in the first eight months of this year
Between January and August, up to 40,419 companies suspended their operations, representing an on-year increase of 3.5%. Among those, 14,924 firms reported a limited suspension, while the remainder appeared to have closed entirely.
As many as 73,400 companies were set up in the eight-month phase with a total registered capital of VND567.9 trillion, up 19.7% in enterprise number and 50.9% in capital value against the same period of 2015.
The office also said that Vietnam faced a budget deficit of VND112 billion since early this year, while the country saw a trade surplus of USD2.5 billion during the time.