Newly-established businesses in H1 exceed 70,000 for first time

There were 76,233 newly-registered enterprises in the first six months of this year, an increase of 13.6 per cent compared to the same period last year.

This is the first time that the number of newly-established enterprises in the first six months has exceeded 70,000.

Workers make garment products of Apparel Far Eastern Việt Nam Co. in Bình Dương Province.

Data from the Business Registration Management Agency, Ministry of Planning and Investment, showed that 116,900 enterprises were entering or re-entering the market in the first six months.

In terms of capital, although it declined by 6.4 per cent over the same period last year, with a value of VND882.1 trillion (US$38.4 billion), it was still 1.2 times higher than the average for 2017-2021.

Hanoi and HCM City continued to record a significant increase in newly-established enterprises.

Accordingly, Hanoi has 14,628 newly-established enterprises, up 9.8 per cent yearly.

HCM City has 22,469 newly established enterprises, a year-on-year increase of 11.5 per cent.

Meanwhile, the number of enterprises returning to operation in the first six months of this year was 40,667, an increase of 55.6 per cent over the same period last year and 1.9 times higher than the average in 2017-2021.

In the opposite direction, 83,570 businesses withdrew from the market in the first six months of this year, a year-on-year growth of 19 per cent.

Enterprises withdrawing from the market are mainly temporarily suspending their businesses, with 50,909 enterprises, accounting for 60.9 per cent.

Enterprises temporarily suspending business were mainly in the fields of wholesale, retail, car and motorbike repairing (18,417 enterprises, accounting for 36.2 per cent), construction (7,206 enterprises, 14.2 per cent) and processing and manufacturing industry (5,948 enterprises, 11.7 per cent).

Digital transformation creates a healthy agribusiness environment

The Covid-19 epidemic on the one hand made the country’s agricultural products face many difficulties in the consumption process, but on the other hand it opened new ways of consumption with low cost and high efficiency, which is trading on digital platforms.

 

About 94 percent of business and organization use electronic invoice in Bac Giang

(BGO) - Under the direction of the Government and Ministry of Finance, the enterprises, economic organizations, household businesses and individuals in 57 centrally-run provinces and cities including the northern province of Bac Giang started to apply electronic invoice (e-invoice) from April 1, 2022 to replace the paper form. It becomes compulsory task from July 1, 2022.

 

Innovation key to enhancing businesses’ productivity

While innovation is considered as key to boosting the productivity and quality of products, due attention has not been paid to the issue by Vietnamese enterprises, experts have said.

 

Provincial Chairman Le Anh Duong meets with Singapore Business Federation

(BGO)- On May 24, Amy Wee, Country Head (Vietnam) of Singapore Business Federation (SBF) and other delegates paid a working visit to Bac Giang province to discuss the plan to cooperate and seek investment opportunities in Bac Giang province. Chairman of the provincial People’s Committee Le Anh Duong received the delegation.

 

Seminar connects Vietnamese, US agricultural businesses

Vietnamese Minister of Agriculture and Rural Development Le Minh Hoan and Marc Mealy, Senior Vice President for Policy at the US-ASEAN Business Council (USABC), co-chaired a seminar connecting agricultural enterprises of Vietnam and the US on May 13 in Washington D.C.

 

Source: VNS