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Vietnam’s business sector continues to show resilience and growth in 2024, despite some month-to-month fluctuations. This article provides an overview of the latest trends in business establishment, reactivation, and closure in Vietnam, with a focus on July 2024 and the first seven months of the year.
In July 2024, Vietnam saw the establishment of 14,700 new enterprises with a registered capital exceeding 110 trillion VND. These new enterprises employed over 88,400 workers. Compared to June 2024, there was a 6.3% decrease in the number of new businesses and a 22.8% decrease in registered capital. However, the number of employees registered saw a 3.3% increase.
When compared to the same period last year, the number of new businesses increased by 7.3%, while registered capital decreased by 13%, and the number of employees rose by 11.9%. The average registered capital of a newly established enterprise in July was 7.5 billion VND, which is a decrease of 17.6% from the previous month and an 18.9% decrease from the same period last year. Additionally, more than 6,800 businesses resumed operations, marking a 26.2% increase from the previous month but a slight 0.7% decrease from the same period in 2023.
In the first seven months of 2024, Vietnam registered over 95,200 new enterprises with a total registered capital of 854.6 trillion VND and nearly 600,400 registered employees. This reflects a 6.3% increase in the number of enterprises, a 2.4% increase in registered capital, and a 2.0% increase in the number of employees compared to the same period last year.
The average registered capital of a newly established enterprise during this period was 9.0 billion VND, a 3.6% decrease from the same period in 2023. When accounting for the additional 919.2 trillion VND in registered capital from more than 27,100 enterprises that increased their capital, the total registered capital added to the economy in the first seven months of 2024 amounted to 1,773.8 trillion VND, marking a 9.1% decrease from the same period in 2023.
Moreover, nearly 44,300 businesses resumed operations during this period, a 4.7% increase from the same period in 2023. This brought the total number of newly established and reactivated businesses in the first seven months of 2024 to nearly 139,500, representing a 5.8% increase from the same period in 2023. On average, more than 19,900 businesses were either newly established or reactivated each month.
In terms of economic sectors, the first seven months of 2024 saw 919 new enterprises established in the agriculture, forestry, and fisheries sectors, a 2.8% decrease from the same period last year. The industrial and construction sector saw the establishment of 22,400 enterprises, an increase of 4.8%, while the service sector had 71,900 new enterprises, reflecting a 6.8% increase.
July 2024 also saw 6,837 businesses register to temporarily suspend operations, a 26.2% increase from the previous month but a 0.7% decrease from the same period in 2023. Additionally, 7,035 businesses stopped operating to await dissolution procedures, marking a 30.2% increase from the previous month and a 33.8% increase from the same period last year. Meanwhile, 1,730 businesses completed dissolution procedures, reflecting a 22.4% decrease from the previous month but an increase of 1% from the same period in 2023.
Over the first seven months of 2024, more than 78,000 enterprises temporarily suspended operations, a 16.7% increase from the same period last year. Additionally, over 35,500 businesses stopped operating to await dissolution procedures, a 1.5% decrease, while 11,900 businesses completed dissolution procedures, a 14.5% increase. On average, more than 17,900 businesses exited the market each month during this period.
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