Over VND2.7 quadrillion pumped in Vietnam's economy

Thursday, 2017-11-30 11:18:57
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The wholesale and retail sector reports the highest number of newly established firms (illustrative image)
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NDO - Over VND2.7 quadrillion (US$118.8 billion) has been pumped in the national economy over the past 11 months thanks to the establishment of more than 116,000 enterprises and the capital expansion of more than 32,200 others during the 11-month period.

According to the General Statistics Office (GSO), the country witnessed the establishment of more than 116,000 firms in the January-November period with a total registered capital of over VND1.1 quadrillion (US$48.4 billion), up 14.1% in the number of enterprises and up nearly 42% in terms of registered capital compared to the corresponding period in 2016. The total number of workers registered at newly established enterprises was more than one million.

During this period, more than 32,200 enterprises have registered to increase their capital with a total supplemented capital of over VND1.5 quadrillion (US$66 billion) which has helped raise the total newly registered and supplemented capital of enterprises to over VND2.7 quadrillion in 11 months.

The GSO stated that the average registered capital per new enterprise reached VND9.8 billion (US$431,200), an increase of 24.3% compared to the same period last year.

In addition, 24,349 enterprises have resumed their operations during the 11-month period, raising the total number of newly established firms and firms returning to operations to more than 140,000 in 11 months.

The wholesale and retail sector reported the highest number of newly established firms which accounted for 35.9% of the total number of newly set up firms. Meanwhile, the manufacturing and processing industry accounted for 12.8% of the total number of newly established firms and the construction sector made up 12.7% of the total number of newly established firms.

In the January-November period, more than 10,800 enterprises have registered to dissolve with 91.6% of them being small enterprises with the capital size less than VND10 billion (US$440,000) each and more than 55,600 enterprises have suspended their operations.