Businesses increase investment despite Covid-19 rebound

Update: 07:43 | 01/09/2020

The number of newly-established enterprises in August still managed to increase by 1.5% month-on-month, with registered capital up by 20.7%, despite the recurrence of Covid-19 in late July.

13,400 new enterprises were established this month, with registered capital reaching VND288.8 trillion, with the number of registered employees at 96,300, an increase of 1.5% in number of enterprises, up 20.7% in registered capital and 5.4% increase in number of employees over the previous month,.

Businesses, increase investment, Covid-19 pandemic, newly-established enterprises, registered capital, number of enterprises

Garment workers produce anti-Covid-19 face masks.

The average registered capital per newly-established enterprise in August reached VND21.6 billion VND, up 18.9% over the previous month and 59.2% over the same period in 2019.

Also in the month, 4,775 enterprises returning to operation, down 1.3% over the previous month and up 200.9% over the same period last year. Meanwhile, 3,102 enterprises suspended their business activities for a definite period, down 8% month-on-month and up 158.5% year-on-year.

During the first eight months of 2020, the country had 88,700 newly registered enterprises, down 2% from the same period last year.

However, the newly-registered enterprises in eight months had a total registered capital at over VND1.2 quadrillion, up 6.5%, with average registered capital per enterprise at VND13.8 billion, up 8.7%.

When including the nearly VND2 quadrillion of additionally registered capital from the 26,100 enterprises that registered to increase their capital, the total registered capital added to the economy in the past eight months this year was over VND3.2 quadrillion, 16.8% higher than the same period last year.

There was also a remarkable increase in the number of enterprises returning to operation during that period, with about 32,600, up 27.9%, bringing the total number of newly-established enterprises and those resuming operation in eight months to 121,300, up 4.5% over the same period last year. That means on average there are nearly 15,200 enterprises being newly established and returning to operation each month.

Meanwhile, those with suspended operations pending dissolution procedures decreased by 5.9%, at 24,200 businesses. The number of enterprises temporarily suspending their business for a set period was nearly 34,300, up 70.8%. About 10,400 enterprises completed dissolution procedures, down 1.9%.

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Source: NDO

 
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