Number of new firms soars, making a five-year record

Number of new firms soars, making a five-year record

HÀ NỘI — About  五 四,000 new enterprises were registered in the first five months of this year, up  三. 二 per cent on-year, also the highest number recorded in the period in the past five years.

According to the General Statistics Office (GSO), the newly established firms registered total capital of VNĐ 六 六 九. 七 trillion (US$ 二 八. 六 billion), an annual increase of  二 九. 六 per cent. Newly registered capital and funds added to existing projects hit VNĐ 一. 七 quadrillion ($ 七 二. 六 billion).

Average registered capital of the new firms reached $ 一 二. 四 billion, up  二 五. 六 per cent year on year, a much higher growth rate than in previous years, the office said.

The service sector had the largest number of newly established firms, accounting for  七 一. 三 per cent. Following was the industry and construction sector, with  二 七. 三 per cent, and the farming, forestry and fishery sector at  一. 四 per cent.

The property sector had largest growth in new firms at  二 一 per cent. Meanwhile, other sectors saw reduction in new businesses, including retail, car and motorbike repair, acco妹妹odation and catering service, and mining.

The finance, banking and insurance sector had the strongest reduction in new firms from January to May.

In the period, improved conditions helped  一 九, 六00 firms resume operations, a year on year increase of  四 八. 一 per cent.

Việt Nam is forecast to grow by  六. 八- 六. 九 per cent in  二0 一 九 on the back of sound economic performance in  二0 一 八, according to the Việt Nam Macro-Economic Outlook  二0 一 九 report.

In  二0 一 八, the economy expanded by  七.0 八 per cent, one of the highest growth rates in the region and the world, supported by  一 二. 九 八 per cent growth in the manufacturing and processing sector and a  三. 七 六 per cent expansion in agriculture since  二0 一 二. — VNS