Every day there are about 380 new businesses established.

The General Statistics Office (Ministry of Planning and Investment) has just announced the business registration situation in the past 10 months. The number of newly established businesses and the average capital increased sharply thanks to the positive effects of policy innovations...

“It worked”

Accordingly, in October alone, the whole country had 10,314 newly established enterprises with registered capital of VND81,500 billion, an increase of 28.2% in the number of enterprises and 7.1% in registered capital compared to the previous month.

In the first 10 months, the whole country had 91,765 newly registered enterprises, with a total registered capital of 710,600 billion VND, an increase of 18.3% in the number of enterprises and an increase of 46.2% in registered capital compared to the same period.

The average registered capital per enterprise reached 7.7 billion VND, up 23.5% over the same period.

The General Statistics Office said that the business registration situation in the first 10 months of this year showed many positive signs of the economy.

The total number of registered employees of newly established enterprises in the 10 months was 1.06 million people, down 8.3% over the same period.

In the first 10 months of this year, 22,486 enterprises returned to operation, up 38.8% over the same period, bringing the total number of newly registered enterprises and enterprises returning to operation in the first 10 months to 114,300 enterprises.

Thus, on average, about 380 new businesses are established every day, about 16 businesses are born every hour.

“This shows that the new legal framework along with the Government’s solutions in supporting and encouraging business development have been effective, helping businesses find new directions and development opportunities,” said the General Statistics Office, emphasizing that the number of newly registered businesses in the first 10 months of this year in most industries and fields increased.

Many positive signs

Over the past 10 months, some industries have seen strong growth in both the number of enterprises and registered capital, such as real estate, which has seen a 93.5% increase in the number of enterprises and a 213.5% increase in registered capital. This is the industry with the highest growth rate.

Notably, in the agriculture, forestry and fishery sector, the number of newly established enterprises decreased by 16.2% but registered capital increased by 26.7% over the same period.

The General Statistics Office commented that the business registration situation in the first 10 months of this year showed many positive signs of the economy, when the number of newly registered businesses and businesses returning to operation increased, the number of businesses ceasing operations without registering or waiting for dissolution decreased, and the number of businesses completing dissolution procedures only increased slightly.

Resolution 35 of the Government is applied with the goal of untying businesses, reducing inspection/checking of businesses once a year, not criminalizing economic relations... along with a series of laws and resolutions to support business development. The time to register a new business is reduced to only 3 days.

Recently, Vietnam also moved up 9 places in the new ranking of business environment of the World Bank (WB).

According to Bach Duong/vneconomy