Number of new enterprises reaches record high

In Q1, 2017, 26,478 firms were founded with a total registered capital of VND 271.2 trillion, the Enterprise Development Agency.

These showed a rise of 11.4% in number and a surge of 45.8% in value in comparison with the same period last year.

In March alone, 12,027 enterprises were established, the highest number over the last six years.

The Agency under the Ministry of Planning and Investment attributed the surges to the implementation of a new business plan after the long Tet holidays.

According to the Agency, the 2014 Law on Enterprises took effect and has breathed new life into the business environment. Accordingly, the number of newly-founded businesses set new record and the amount of capital stood at high levels, showing abundant business opportunities in the market.

The average capital of a project also saw a year-on-year increase of 30.9% to VND 10.2 billion.

Meanwhile, in Q1, the number of enterprises resuming operation was 9,271, nearly doubling that of the same period last year. 

On the other hand, 9,942 enterprises temporally suspended operation. Up to 10,700 others were dissolved. Most of them were small-sized enterprises.

Source VGP