Up to 41,660 businesses in Vietnam ceased trading in the first eight months of this year, up 45.9% on-year, the Ministry of Planning and Investment (MPI) reported.
According to MPI, the increase was attributed to localities more closely inspecting enterprises to remove those which no longer operate.
Up to 41,660 businesses in Vietnam ceased trading in the first eight months of this year
During the period, 9,135 businesses were shut, up 17.8% on-year.
The ministry also said that between January and August, 87,448 new firms were set up with a total registered capital of VND878.627 trillion (USD39.93 billion), up 2.4% in business number and up 6.9% in capital value against the same period of last year.
Newly-established businesses focus on real estate, health, finance and banking, insurance.
In the Jan-August phase, 20,942 enterprises resumed their operations, representing a slight increase on-year.
