Newly established enterprises in January 2024 experienced significant growth

According to data from the Department of Business Registration (Ministry of Planning and Investment), the number of newly established enterprises in January 2024 surged both in terms of quantity and registered capital.

Specifically, there were 13,536 newly established enterprises in January 2024 (an increase of 24.8% compared to the same period in 2023) with a registered capital of 151.451 trillion VND (an increase of 52.8% compared to the same period in 2023).

According to the Department of Business Registration, 13 out of 17 sectors witnessed an increase in the number of newly established enterprises compared to the same period in 2023. Among them, the sectors with significant increases include Other service activities (up 64.4%); Arts, entertainment and recreation (up 48.7%); Warehousing and support activities for transportation (up 44.3%); Wholesale and retail trade; repair of motor vehicles and motorcycles (up 34.6%); Manufacturing (up 31.9%); Education and training (up 27.0%); Mining (up 25.5%); Construction (up 23.2%)...

However, the majority of newly established enterprises are small-scale (ranging from 0 to 10 billion VND) with 12,432 enterprises (accounting for 91.8%, an increase of 26.7% compared to the same period in 2023), mainly in the service sector with 10,177 enterprises, accounting for 75.2% of the total number of newly established enterprises, up 24.4% compared to the previous year.

The Industrial and Construction sectors saw 3,208 enterprises entering the market, accounting for 23.7% of the total number of newly established enterprises, up 26.3% compared to the same period in 2023. The Agriculture, Forestry, and Fisheries sector recorded 151 newly established enterprises, accounting for 1.1% of the total number of newly established enterprises, up 20.8% compared to the same period last year.

All 6/6 regions across the country experienced an increase in the number of registered enterprises compared to the same period in 2023: Northern Midlands and Mountainous Region (774 enterprises, up 48.3%); Central Highlands (399 enterprises, up 44.0%); Mekong River Delta (1,021 enterprises, up 30.1%); Southeast (5,667 enterprises, up 23.4%); Red River Delta (4,132 enterprises, up 22.6%); and North Central Coast and Central Coast (1,543 enterprises, up 19.2%).

Regarding enterprises returning to operation, according to the Department of Business Registration, 13,799 enterprises resumed operations in January 2024. Among them, the real estate business had the highest increase in the number of enterprises returning to operation (29.3%), followed by information and communication (11.6%), manufacturing (6.9%)...

As for enterprises withdrawing from the market, the Department of Business Registration reported that in January 2024, 53,888 enterprises withdrew from the market, an increase of 22.8% compared to the same period in 2023. The majority of these were enterprises choosing to temporarily suspend business operations (accounting for 81.5%).

Specifically, the number of enterprises temporarily suspending business operations was 43,925 enterprises, up 25.5% compared to the same period in 2023. Most enterprises temporarily suspending business operations in the month had short operating times, less than 5 years, with 19,611 enterprises (accounting for 44.6%); mainly focusing on small-scale enterprises (less than 10 billion VND) with 39,625 enterprises (accounting for 90.2%, up 25.2% compared to the same period in 2023).

The number of enterprises waiting to undergo dissolution procedures was 7,798 enterprises, up 14.0% compared to the same period in 2023. The majority of enterprises waiting to undergo dissolution procedures were small-scale enterprises (less than 10 billion VND) with 6,941 enterprises (accounting for 89.0%, up 14.9% compared to the same period in 2023).

And the number of dissolved enterprises was 2,165 enterprises, up 6.2% compared to the same period in 2023. Among them, 10 out of 17 main business sectors saw an increase in the number of dissolved enterprises compared to the same period in 2023. Most dissolved enterprises in January 2024 had short operating times (less than 5 years) with 1,587 enterprises (accounting for 73.3%) and mainly focusing on small-scale enterprises (0 - 10 billion VND) with 1,879 enterprises (accounting for 86.8%, up 6.7% compared to the same period in 2023).

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