7 months, number of newly established enterprises increased by 0.2%

Carry out procedures for establishing a business at the Business Registration Office (Hanoi Department of Planning and Investment)

In the first 7 months of 2023, the whole country had 89.6 thousand newly registered enterprises with a total registered capital of 834.3 trillion VND and a total registered number of 588.9 thousand employees, an increase of 0.2% in the number of enterprises, a decrease of 17.1% in registered capital and a decrease of 5.2% in the number of employees compared to the same period last year.

The average registered capital of a newly established enterprise in the first 7 months of 2023 reached 9.3 billion VND, down 17.3% over the same period in 2022.

If including the VND 1,117.9 trillion of additional registered capital of 28.9 thousand enterprises increasing capital, the total registered capital added to the economy in the first 7 months of 2023 was VND 1,952.2 trillion, down 41.5% over the same period last year.

In addition, 42.3 thousand enterprises returned to operation (down 4.6% compared to the same period in 2022), bringing the total number of newly established enterprises and enterprises returning to operation in the first 7 months of 2023 to 131.9 thousand enterprises, down 1.4% compared to the same period last year. On average, there are 18.8 thousand newly established and returning enterprises per month.

By economic sector, in the first 7 months of this year, there were 945 newly established enterprises in the agriculture, forestry and fishery sector, down 23.7% over the same period last year; 21.3 thousand enterprises in the industry and construction sector, down 5%; 67.3 thousand enterprises in the service sector, up 2.5%.

Also in July, 6,884 enterprises registered to temporarily suspend business for a period of time, up 34.9% over the previous month and up 30.3% over the same period in 2022; 5,257 enterprises stopped operating pending dissolution procedures, down 8.6% and up 19%; 1,581 enterprises completed dissolution procedures, up 6.7% and down 10.5%.

In the first 7 months of 2023, the number of enterprises temporarily suspending business was 66.8 thousand, up 19.3% over the same period last year; 36 thousand enterprises suspended operations pending dissolution procedures, up 27.9%; 10.4 thousand enterprises completed dissolution procedures, up 0.6%. On average, 16.2 thousand enterprises withdrew from the market per month.

Economic experts say that looking at the picture of the "in and out" of the market of enterprises is not really stable, showing that the economic recovery of the Government and ministries and branches still has many challenges. Therefore, the support policies recently issued by the Government need to be implemented effectively soon, helping enterprises stabilize and gradually recover production and business.

In order to remove difficulties for businesses, Deputy Minister of Industry and Trade Do Thang Hai suggested that the Vietnamese Trade Office abroad should continue to delve deeper into research, grasp the needs, tastes, and requirements of the market, evaluate the policies of the host country, and promptly advise the Ministry of Industry and Trade on market development strategies and trade connections.

In addition, provide recommendations to help industry associations, businesses, and localities build and adjust appropriate production and business strategies and plans; receive suggestions from business associations and localities to have plans to support associations and localities in market development.

Deputy Minister Do Thang Hai also requested industry associations and enterprises to proactively guide and support enterprises in building and adjusting strategies, production and business plans, and trade promotion in accordance with the needs and capacity of each unit, proactively transforming production and business in accordance with market trends, especially transforming green and sustainable exports.

On the other hand, focus on providing information on business operations, promptly exchanging with units under the Ministry and related Ministries, and Vietnamese Trade Offices abroad to coordinate effective implementation.

For businesses, the Deputy Minister noted that they must strictly and fully comply with state regulations and policies, instructions from ministries and branches in organizing production and business and import-export activities, ensuring traceability of origin and processes, regulations, requirements and conditions of foreign markets.

According to VNA