Vietnam sees nearly 7,000 newly established enterprises in February

However, hirings by these new firms were down by 9.5% to about 93,600, according to the Business Registration Agency under the Ministry of Planning and Investment.

Except for the Central Highlands region, which saw a year-on-year reduction of 44.7% in the number of new enterprises, other regions throughout the country recorded rises with the Red River Delta boasting the largest number of new companies coming into operation.

Sector-wise, newly established enterprises were mainly in such industries as entertainment, property trading, agriculture, forestry and seafood while those in healthcare and social support fell.

In February, the number of dissolved enterprises rose 6.9% to 1,062, the majority of which have capital under VND10 billion (US$470,000) while those forced to temporarily suspend their operations dropped by 55.1% to 4,391.

These figures show that companies with higher capital levels are usually more resilient to difficulties than smaller ones.

In the first two months of 2015, more than 14,000 enterprises had to close, including nearly 4,800 filing for temporary shutdown and more than 9,200 under final termination procedures, indicating that the business community is still struggling.

On the bright side, more than 4,300 enterprises resumed their operations in January and February, up 20.2% from a year earlier.

(Source: Nhandan Online)