A worker at a factory producing lentils in northern Hoa Binh province, June 2023. Photo by VnExpress/Giang Huy
A record 103,658 new businesses were created in the first eight months of this year, an increase of 2.3% year-on-year, the Ministry of Planning and Investment (MPI) reported.
In August alone, the country saw more than 14,000 new businesses created, an increase of 17.9% year-on-year. However, the number of businesses returning to the market during the month fell 3.1% year-on-year and 10.9% month-on-month.
During the January-August period, 149,400 companies joined and returned to the market, a slight decrease of 0.03% year-on-year, but 1.2 times higher than the average figure recorded during the period 2018- 2022, the ministry said.
The education sector saw the largest increase in new businesses at 35%, followed by the health sector at 18.9% and employment services, tourism, machine rental and equipment and other support services, with 16.3%.
However, the total registered capital of newly established companies fell 14.7 percent year-on-year to 969.61 billion VND (over $40.2 billion).
Meanwhile, during the reporting period, 124,684 companies withdrew from the market, up 19.5% year-on-year, of which 71,833 companies stopped operations, 41,064 companies canceled their applications and another 11,787 were dissolved.
In order to support business development, Deputy Minister of MPI Tran Quoc Phuong said that in addition to applying flexible, active and effective monetary and fiscal policies and measures to eliminate difficulties in business and production activities, the ministry will propose adjustments and additions to certain relevant mechanisms. and policies.