Vietnam Welcomes More Than 22,000 New Businesses in the Initial Two Months

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.