Vietnam has more than 26,700 new firms in first quarter
More than 26,700 enterprises were established in Vietnam in the first three months of the year, with total registered capital of nearly VND278.5 trillion (US$12.25 billion), according to the Agency of Business Registration under the Ministry of Planning and Investment.
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The numbers were up 1.2% and capital rose 2.7% against the same time last year. Average registered capital for each business exceeded VND10 billion (US$440,000). The firms employed 225,389 workers, down 22.7% year-on-year.
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The number of new firms was concentrated mainly in the wholesale, retail, automobiles and motorbike repairing sectors with 9,200 companies, 34% of the total.
There were 3,600 enterprises in construction, or 13%, and more than 3,200 businesses in the manufacturing and processing industry, making up 12%.
Of the registered capital, real estate attracted the most with VND79 trillion (US$3.48 billion), more than 28% of total capital. The construction sector came second with more than VND42 trillion (US$1.85 billion) or 15%, followed by the wholesale, retail, automobiles and motorbikes repairing sectors with VND38.5 trillion (US$1.69 billion) or 13.8%.
Also in the period, some 8,449 enterprises resumed operations while 8,115 ceased operations or were awaiting dissolution and 3,321 others completed dissolution procedures.
