Today: 26/02/2024 14:17:07 (GMT+7)

New businesses down in July but capital up sharply

The number of new enterprises in July fell by 3.8% from the previous month but registered capital soared by 72% in a sign that business support policies and post-coronavirus recovery plans have begun to take effect.

Official data shows 13,200 new businesses were established this month, with plans to invest VND239 trillion (US$10.3 billion) and hire more than 91,000 workers.

New businesses, July, increase capital, business support policies, post-coronavirus recovery plans,  investment capital, January-July period

July sees the establishment of 13,200 new businesses.

The investment capital of an enterprise averaged at VND18.1 billion, up 78.8% from June but down 60.9% from the same month in 2019.

July also saw 4,839 enterprises returning to business, 3,372 filing for temporary suspension, and another 3,068 awaiting dissolution.

Data for the first seven months of 2020 showed new enterprises were estimated at 75,200 with total registered capital of VND936.4 trillion (US$40.5 billion), down 5.1% in numbers and 6.3% in capital compared with the same period of 2019.

The number of workers recruited by these enterprises also fell by 19.5% to 598,600.

If additional capital by the 21,000 existing firms is counted, total capital injected into the economy in the January-July period will be more than VND2 quadrillion (US$86.4 billion), down 15.4% from a year earlier.

The period saw 28,600 enterprises returning to the market, up 17.6%, but another 32,700 were forced out of business temporarily, up 41.5% from the previous year.

PM holds meeting with outstanding business leaders from Board IV, YPO
Prime Minister Nguyen Xuan Phuc on July 16 held a meeting with outstanding business leaders who are members of the Private Sector Development Research Board (Board IV) of the government’s Advisory Council for Administrative Procedure Reform and Young Presidents’ Organisation (YPO).
Supporting women in starting business, asserting themselves
(BGO) – For many years, all levels of the Women's Union of Yen Dung district (Bac Giang province) have accompanied their members in implementing many measures to carry out the project "Supporting women in starting a business in the 2017 – 2025 period".
Chairman of Bac Giang provincial People's Committee Duong Van Thai: "Satisfaction of people, businesses is target of administrative reform"
(BGO) - On the occasion of reviewing 10 years of the Public Administration Reform Master Programme (PARMP) for the 2011-2020 period, Bac Giang Newspaper interviewed Duong Van Thai, Chairman of the Bac Giang provincial People's Committee on the results and the province’s orientations in the time to come.
Le Hong Van gives up thousand-dollar job to start business with dry pancake
(BGO) - Quitting a thousand-dollar job, Le Hong Van (born in 1988) in Tang Tien commune (Viet Yen district) has come back to her hometown to start a business. Currently, Joy Vietnam Co., Ltd., owned by Van, is producing thousands of dry pancakes every day. The products are available in many clean food chains and major supermarkets in Hanoi and some northern provinces.
Vietbuild International Exhibition 2020 attracts over 400 businesses
The Vietbuild International Exhibition 2020 officially opened in Ho Chi Minh City on June 24, attracting the participation of more than 400 enterprises with 1,800 pavilions.

Source: NDO

New businesses, July, increase capital, business support policies, post-coronavirus recovery plans, investment capital, January-July period
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