Over 12,400 new firms set up in Vietnam during August 2017

As many as 12,404 new enterprises were set up in August with total capital of VND131 trillion (US$5.76 billion), up 6.2% in volume and 39% in value, reported the General Statistics Office (GSO).

In the first eight months of this year, 85,357 firms were established with combined capital of VND822 trillion (US$36.16 billion), up 16% and 44.8% over the same period last year, respectively.

Total capital pumped into the economy in the period was VND1,930 trillion (US$84.92 billion), including VND1,108 trillion added to nearly 24,700 existing firms.

The GSO revealed that 19,154 enterprises resumed their operation, an increase of 2.4% year on year.

Wholesale and retail sector drew the largest new businesses with 30,700 firms, followed by construction sector with 11,000 enterprises and processing-manufacturing sector, 11,000 firms.

In eight months, the northern midland and mountainous regions saw the highest rise in new firms, with 3,700 enterprises, up 31.8%, and the Central Highlands region, with 2,200 firms, a rise of 25.4%.

The GSO also reported that the number of dissolved enterprises in eight months were 7,754, an increase of 3.7% year on year, including 7,146 firms with capital of VND10 billion, accounting for 92.2%.

At the same time, 45,776 firms halted their operation, a rise of 13.3%, including 28,545 enterprises waiting for dissolving.

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