Number of newly-established enterprises up 15.2% in 2017

VGP - The total number of newly-established enterprises in 2017 was nearly 127,000 with total registered capital of VND1.3 quadrillion, witnessing respective increases of 15.2% and 45.4% against last year, according to the Ministry of Planning and Investment.

The number of enterprises resuming their operations was around 26,000 with total additional capital of VND1.86 quadrillion.

The total number of newly-established firms and firms resuming operations set a record with more than 153,000 companies with total registered capital of VND3.16 quadrillion, breaking the record of 110,000 firms last year.

Average registered capital was VND10.2 billion per company in 2017, up 26.2%.

In December alone, the number of newly-established businesses was 10,814 with total registered capital of VND164 trillion, representing an increase of 1% in number and 49 % in registered capital from the previous month.

Therefore, average registered capital was VND15.2 billion per company in December, up 50.8% from the previous month.

The country also had 1,245 firms resume operations this month.

Newly-established enterprises were mostly operating in wholesale, retail and automobile repair with over 45,400 (36%), processing and manufacturing with 16,100 (13%) and construction with 16,000 (13%).

Source: Online Newspaper of the Government of the Socialist Republic of Vietnam