The number of newly established businesses is the highest ever.

Overall this year, the country saw the establishment of 126,859 new businesses, with a total registered capital of 1,295,900 billion VND.

According to the Business Registration Management Department of the Ministry of Planning and Investment, in December, the whole country saw the establishment of over 10,800 new businesses with a registered capital of VND 164,100 billion. For the whole year, the country has seen the establishment of 126,859 new businesses with a total registered capital of VND 1,295,900 billion, a significant increase in both the number of businesses and registered capital compared to the previous year.

The average registered capital of newly established businesses this year reached 10.2 billion VND, an increase of over 26% compared to last year. Including the capital of businesses that increased their capital, the total amount of additional capital injected into the economy this year is 3,165,200 billion VND.

Besides the newly established businesses, this year also saw more than 26,400 businesses resuming operations, bringing the total number of newly established and resuming businesses this year to 153,300. The total number of registered employees of newly established businesses this year is 1,161,300.

The number of newly registered businesses and the registered capital increased sharply compared to 2016. (Illustrative image: KT)

By sector, this year saw 45,400 new businesses established in the wholesale and retail trade sector (accounting for nearly 36% of the total number of newly established businesses), an increase of nearly 17% compared to the previous year; followed by manufacturing and processing businesses; construction businesses; science and technology businesses; consulting, design, advertising and other professional services businesses.

The number of newly established businesses this year has increased sharply, surpassing the record of 110,000 businesses last year. This demonstrates that the efforts of the Government and ministries, sectors, and localities in improving the investment and business environment have yielded results, making it easier for businesses to enter the market and participate in production and business activities.

However, alongside the number of newly established businesses, the number of businesses ceasing operations or dissolving in 2017 remained at nearly 60,600. Although this was a decrease of 0.2% compared to the previous year, it is still a significant figure, requiring the Government and relevant agencies to make greater efforts in improving the business environment and removing obstacles for businesses to operate.

According to VOV