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New firms up 9% in first 8 months

Update: September, 04/2013 - 11:10
In the second quarter of the year alone, the number of newly-created enterprises surpassed 23,200 – a record high for the past two years, soaring 20 per cent over the same period and 41.8 per cent over the third quarter last year.— Photo baodautu

HA NOI (VNS) — Some 52,000 enterprises were created in the first eight months of this year with total registered capital of nearly VND253.7 trillion (US$12.08 billion), or a 9 per cent rise year-on-year, according to statistics from the Business Registration Department.

In the second quarter of the year alone, the number of newly-created enterprises surpassed 23,200 – a record high for the past two years, soaring 20 per cent over the same period and 41.8 per cent over the third quarter last year.

The soaring number of newly-established firms from the second quarter this year reflected the recovery of the economy, according to the department.

Enterprises resuming operation after temporarily closing also increased in this year's second quarter month on month, from 8,300 in April to 8,800 in May and 9,300 in June. To date, a total of 10,631 enterprises resumed operation, statistics showed.

The number of enterprises which dissolved and stopped operation is on the decline, with 5,161 and 4.476 units in August, down 6.2 per cent and 5.7 per cent over the previous month, respectively.

The total retail sale of goods and services rose by 12.3 per cent over the same period last year, reaching VND1.705 trillion ($81.233 million), showing improved purchasing power.

Current low interest rate was also among factors helping enterprises expand operation and grasp business opportunities.

Many economic experts pointed out that access to loans and how products are sold were the two most important factors for domestic enterprises. — VNS

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