Start-up capital goes up 13.9 percent in 9 months

These new registered businesses are expected to hire 795,000 workers, according to the Ministry of Planning and Investment.

During the same period, operating businesses also added nearly 421.5 trillion VND to their capital. During the same period, 11,872 enterprises resumed operation after suspending for some time. However, another 48,330 enterprises suspended or terminated operation, an increase of 13.8 percent from the same period last year. Director of the ministry's General National Economy Department Bui Ha said the statistics of starts up and dissolution reflected the three major trends among sectors. Some sectors are seeing good growth, reflected by the increasing number of new starts up and decreasing number of dissolutions. This is most clearly seen in the distribution, power, water and gas supply sector, with an increase of 14 percent in new businesses and a 26 percent drop in dissolutions. Meanwhile, strong fluctuations in the numbers of enterprises in some sectors showed major restructuring is underway. These sectors included entertainment and recreation with a 55.3 percent rise in start-up and 24.2 percent increase in dissolution, agriculture-forestry-aquaculture with increases of 26.2 percent and 6.8 percent, and real estate with rises of 23.4 percent and 9.3 percent, respectively. Fewer starts up and more business dissolutions were seen in sectors such as construction, retail, wholesale, auto-motor maintenance and other small services, reflecting gloomy business conditions.

(Source: VNA)