The country recorded 131,800 new firms in the first ten months of this year with combined registered capital of over 1.21 quadrillion and 880,000 labourers, it said.

Number of newly-established firms up 21.7% in October.

The figures represented increases of 4.7% in the number of firms and 5.4% in the workforce but fell 12.1% in registered capital compared with the same period last year, the GSO said, adding that the average capital of new enterprises in the period was 9.2 billion VND.

The number of enterprises resuming operations in during the period was 51,900, a year-on-year decline of 1.5%.

Meanwhile, 81,000 enterprises temporarily ceased operations, up 22.1% against last year's same period. Some 50,700 businesses stopped operations, waiting for dissolution procedures, a year-on-year rise of 25.9%, and 14,700 enterprises completed dissolution procedures, down 4.5%. On average, 14,700 businesses withdrew from the market every month.

From January to October, 1,427 newly-established enterprises operated in the agriculture, forestry and fishery sectors, down 15.3% over the same period last year; over 31,300 firms in the industrial and construction sectors, up 0.8%; and 99,000 in the service sector, up 6.4%.

The increase in the number of newly-established industrial enterprises reflected that industrial production continued to flourish after suffering negative growth for many months. It also showed that the measures to assist businesses of the Government, the Ministry of Industry and Trade and other ministries and agencies have brought about positive effects.

Deputy Minister of Industry and Trade Do Thang Hai suggested industry and business associations proactively guide enterprises in building strategies, production and business plans that are relevant to the needs and capabilities of each unit as well as transform production and business in accordance with market trends, especially shifting to green and sustainable exports.

He noted that businesses must strictly and fully comply with state regulations and policies, ensuring traceability of origin and requirements of foreign markets.

They should take full advantage of opportunities and recovery trends of markets to boost exports, Hai added.

State leader praises businesswomen for dedication to national development

President Vo Van Thuong met with outstanding businesswomen nationwide who are members of the Vietnam Association for Women Entrepreneurs (VAWE) in Hanoi on October 5.

More than 1,600 businesses newly established in Bac Giang

BAC GIANG – In the first nine months of this year, Bac Giang province had more than 1,600 newly established businesses, up 41 percent year on year, reported the provincial Department of Planning and Investment.

Customs Branch dialogues with IP businesses

BAC GIANG - On September 30, the Customs Branch managing industrial parks (IP) in Bac Giang province (Customs Branch) organized a talk show with businesses in local IP. The event was attended  by representatives from 40 businesses.

German businesses interested in Vietnam

German news website NTV has published an article highlighting the attractiveness of the Southeast Asian country to German businesses.

Hanoi, Shanghai businesses set up cooperation

The Hanoi Supporting Industries Business Association (HANSIBA) and N&G Group signed a cooperation agreement with a business delegation from Shanghai (China) in Hanoi on September 26.

Source: VNA