Small and medium-sized enterprises account for97% of the total number of newly-licensed firms during the first quarter of this year
The number of newly-licensed enterprises in the January-March period increased 11.4%, compared to the same period of last year, while the capital increased 45.8%.
Pham Dinh Thuy, head of the GSO’s Industrial Statistics Department, small and medium-sized enterprises account for up to 97% of the total number of newly-licensed firms during the first quarter. The average capital of each enterprise is VND10.2 billion (USD45,450).
Meanwhile, GDP growth between January and March was estimated at 5.1%, compared to 5.48% during the same period in 2016 and 6.12% of 2015.
The lower GDP was attributed to the impact of environmental and natural disasters along with the slowdown in the mining industry.
Vietnam has set a target of 6.7% GDP growth this year.
