New enterprises up 5.3% in H1 More than 64,350 new enterprises were formed in the first half of this year with a total registered capital of VND648.9 trillion (US$22.95 billion). These figures, marked year-on-year increases of 5.3 per cent in the number of businesses and 9 per cent at the level of capital, the Business Registration Management Agency, operating under the Ministry of Planning and Investment reported. Experts at the agency attributed the period’s positive performance to the improving business conditions and registration procedure. According to experts, the newly-established firms have a tendency to rise since the beginning of this year. Notably, the second quarter of this year saw the highest number of new firms and level of registered capital over the past five years with 37,750 units, registering $11.8 billion in capital, up 41 per cent and 33 per cent, respectively. In the first six months, the average capital for an enterprise reached VND10.1 billion, surging 3.4 per cent over the same period last year. New enterprises have mainly focused on sectors such as wholesale and retail, repair of cars and motorcycles, accounting for one third of the total capital. The firms also concentrated on processing and manufacturing, making… Read full this story
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