Vietnam’s business circle welcomed more than 91,700 new companies set up with registered capital of 710.6 trillion VND over the past 10 months.
These figures represented increases of 18.3% and 46.2% compared with the same period last year, reported the Ministry of Planning and Investment.
The new businesses included 49,700 registering as one-member limited liability companies, 23,200 as two-member limited liability companies, 15,100 as shareholding companies, 3,600 as private enterprises, and 12 partnership companies.
They recruited 1,061,300 workers, a drop of 8.3% from the same period last year.
The 10-month period saw operating businesses to increase their capital by over VND1.34 trillion, data unveiled.
Up to 22,400 businesses resumed their operation during the reviewed time, showing a surge of 38.8% year on year.
The trend reflected investors’ higher trust in the country’s economic prospects, said the Business Registration Management Department.
It also reported that 17,500 businesses registered for term suspensions, a 29% surge from the same period a year ago. The businesses will return to their normal activities after their suspension terms are expired.
The number of businesses temporarily halting operations without registering or waiting for dissolution was 33,100, decreasing by 28.8% year on year.
Up to 9,200 businesses shut down during the reviewed period, rising 21.6% year on year.
The country’s policymakers are embracing an ambitious plan to have at least 1 million businesses in Vietnam by 2020.