October Sees a 21.7% Surge in Newly-Founded Companies

According to the General Statistics Office (GSO), Vietnam witnessed a significant increase in the number of newly-established enterprises in October. With over 15,400 companies being founded during this period, there was a notable growth of 21.7% compared to the previous month. These enterprises had a total registered capital of VND125.8 trillion ($5.1 billion), reflecting a 7.4% increase.

In the first ten months of the year, Vietnam recorded a total of 131,800 new firms, with a combined registered capital exceeding 1.21 quadrillion. These companies employed around 880,000 individuals. However, there was a decline of 1.5% in the number of enterprises resuming operations during this period. Additionally, approximately 81,000 businesses temporarily ceased operations, marking a 22.1% increase compared to the same period last year.

Deputy Minister of Industry and Trade, Do Thang Hai, has advised industry and business associations to actively guide enterprises in developing strategies and business plans that align with their specific needs and capabilities. He emphasized the importance of adapting production and business practices to align with market trends, particularly focusing on transitioning to green and sustainable exports. Hai encouraged enterprises to leverage market opportunities and recovery trends to enhance their export activities.