Vietnam witnessed the establishment of more than 22,000 new companies during the initial two months of the current year, with a total registered capital of VND218.71 trillion (equivalent to over $8.87 billion), as reported by the General Statistics Office (GSO).

These statistics reflect a year-on-year increase of 12.4% in the number of newly established firms and a significant surge of 32.8% in registered capital.

Within this timeframe, nearly 18,970 enterprises resumed their operations, marking a 4.4% increase compared to the corresponding period last year. This latest addition brings the total number of newly established businesses and those resuming operations to 41,097, representing an 8.5% increase year on year.

However, in February alone, there were more than 8,590 new enterprises with a combined registered capital of VND67.26 billion. Despite a 3% decrease in the number of new businesses, registered capital experienced a modest increase of 2.5%.

From January to February, over 49,270 businesses temporarily suspended operations, marking a 27% increase compared to the previous year. Nevertheless, it’s worth noting that 44,265 out of the total, accounting for 89.8%, were small-sized businesses with a scale under VND10 billion.

In the preceding year, Vietnam witnessed the establishment of nearly 160,000 new enterprises, marking a 7.2% increase compared to the previous year. This record-high figure was 1.2 times higher than the average for the period from 2017 to 2022, indicating a notable surge of 4.6% compared to the estimated figure for the year.