This information was revealed by the General Statistics Office (GSO) on July 29.

Accordingly, the average capital size of domestic enterprises has reached VND12.6 billion, up 24%, the highest level in recent years.

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In addition, there were 24,300 enterprises returning to business, an increase of nearly 30% compared to the same period last year, bringing the total number of new enterprises established and enterprises returning to business in the seven months to over 103,000 businesses.

The number of jobs created by the newly-established enterprises in the seven month period reached 743,900, an increase of 19% over the same period last year.

However, in this period, there were 9,300 enterprises which completed procedures for dissolution or termination; meanwhile the number of enterprises that underwent temporarily suspending operations was 23,000.

In addition, 24,800 businesses halted operations due to not being registered or waiting for dissolution.

According to the GSO, Vietnam registered a trade surplus of US$1.8 billion in the first seven months of 2018.

Notably, the growth rate of export turnover of domestic enterprises in the seven first months reached 12.2%, higher than the growth rate of the foreign-invested sector (5.6%) and the proportion of domestic economic sector tended to increase, accounting for 30.3% of total export turnover (same period last year was 29%).

In the seven first months of 2019, import turnover is estimated at US$ 143.34 billion, up 8.3% over the same period in 2018, of which the domestic economic sector reaches US$ 60.83 billion, up 12, 6%; foreign invested sector reached US$ 82.51 billion, up 5.3%.

The US was the largest buyer of Vietnamese goods with US$32.5 billion, up 25.4%, followed by the EU and China, with their imports from Vietnam worth US$24.3 billion and US$20 billion respectively.

On the other side, China remained the largest source of Vietnam’s imports with US$42 billion. The Republic of Korea came second with US$26.6 billion and ASEAN third with US$18.1 billion.

Vietnam’s supporting industries attract Korean businesses

More and more businesses from the Republic of Korea (RoK) are coming to Vietnam to operate in supporting industries.

Ability to pay taxes online a boon for Vietnam’s import-export businesses

Around 99 percent of import and export tax payments in Ho Chi Minh City are made online, according to the customs department. 

Over 100 energy saving solutions proposed for businesses

More than 100 energy saving solutions have been proposed under a project funded by the Government of the Republic of Korea to promote the investment market for energy efficiency in Vietnam’s industrial sector.

Mekong farmers make organic switch to improve business

More and more farmers and entrepreneurs in the Mekong Delta are realising that new organic farming models help increase their income.

Enterprises optimistic about production, business in Q2

Nearly 90 percent of enterprises operating in processing and manufacturing predict that their production and business would be better or remain stable in the second quarter of 2019, according to the General Statistics Office (GSO).

Source: NDO