Over 98,800 enterprises join, re-enter market in five months
A total of 98,825 enterprises were established or resumed operations in the first five months of 2024, up 4.1% over the same period of last year and 1.2 times higher than the average in the 2019-2023 period, according to the Department for Business Registration Management under the Ministry of Planning and Investment (MPI).
Hanoi (VNA) – A total of 98,825 enterprises were established or resumed operations in the first five months of 2024, up 4.1% over the same period of last year and 1.2 times higher than the average in the 2019-2023 period, according to the Department for Business Registration Management under the Ministry of Planning and Investment (MPI).
Of the total, there were 64,758 newly-established enterprises with combined registered capital of over 601.22 trillion VND (23.62 billion USD), 5.7% higher than the figure of the same period last year.
Meanwhile, a total of 97,299 enterprises withdrew from the market in the last five months, up 10.5% over the same period last year.
In May alone, it is estimated that 13,207 enterprises were newly established and 6,749 businesses resumed their operations while 11,391 enterprises withdrew from the market.
Ten out of 17 industries saw increases in the numbers of newly established enterprises compared to the same period in 2023.
Specifically, the number of newly-established enterprises in transport and warehousing ranked first with a rise of 20.8%, while wholesale, retail, car and motorbike repair increased by 11.2%. The number of new enterprises in the electricity, water, gas production and distribution industries increased by 9.4%.
Meanwhile, the number of new enterprises in accommodation and food services reduced the most, by 15.1%, and health care and social assistance activities down 16.2%.
Most of the newly-established businesses are small-scale with registered capital of less than 10 billion VND, with 59,729 enterprises, accounting for 92.2% of the total.
Except the north central and central coastal regions, all remaining regions across Vietnam saw increased numbers of newly-registered businesses compared to the same period last year.
The new enterprises in the first five months of this year registered a total of 426,381 workers, 5% higher than theꦆ number iꦆn the same period in 2023./.
Business registrations continued to be a bright spot within the overall landscape of Vietnam’s economy in 2023, with nearly 160,000 new enterprises being established, an increase of 7.2% compared to 2022.
Some 51,600 new enterprises with total registered capital of nearly 508 trillion VND (20 billion USD) were established in the first four months of 2024.
A total of 36,244 new enterprises were set up in the first quarter of this year with combined registered capital of 332.2 trillion VND (13.3 billion USD), up 6.9% in number and 7% in capital.
In 2024, durian was a leading export among Vietnam’s fruits and vegetables, earning a record of 3.3 billion USD and accounting for 46% of the sector’s total export value. China was the largest market, importing 3.2 billion USD worth of durians, or 97% of the total.
The arrival of this first wind power equipment shipment signalled the Trung Nam Ca Na seaport’s infrastructure readiness and its entry into a new phase of development, aligned with Vietnam’s adjusted National Power Development Plan VIII.
PM Pham Minh Chinh has called on global tech giants to bolster cooperation with Vietnam to assist with the country's efforts to drive a startup and innovation ecosystem.
Prime Minister Pham Minh Chinh had meetings with leaders from multinational corporations on June 25, advancing Vietnam’s infrastructure development as well as food processing sector, on the sideslines of the 16th Annual Meeting of the New Champions of the World Economic Forum (WEF) in Tianjin city.
According to UOB, following the US’s announcement of reciprocal tariffs of 46% on Vietnamese goods on April 2, around 80% of Vietnamese businesses have proactively taken measures to respond to potential impacts.
As one of the most prestigious annual international events in the industry, the expo serves as a prime platform for enterprises to connect, exchange valuable experience, and explore reliable collaboration opportunities with both domestic and international companies.
Organised by the Vietnamese Embassy and Trade Office, Vietnam's national booth showcases catalogues and product samples from over 30 Vietnamese companies, spanning key sectors such as agriculture, seafood, food and beverages, footwear, textiles, furniture, plastics, construction materials, and industrial machinery.
The pangasius industry is one of the country’s key foreign currency earners, with an annual export value of around 2 billion USD, accounting for 20% of Vietnam’s total seafood exports. The US remains one of the largest and most strategic markets for Vietnamese pangasius.
A Government Office notice on the Deputy PM’s conclusions at a recent meeting to review construction progress of the plants stressed that accelerating the development of power sources is essential and urgent to ensure energy security and meet the demands of two-digit socio-economic growth in the coming period.
It featured four discussions on key issues such as the Vietnam- Switzerland comprehensive partnership, Vietnam’s international financial centre, digital transformation and innovation, and global human resources and expansion of markets.
With rising protectionist policies for the steel industry, and the US imposing tariffs on steel exports, the sector has entered a challenging period. In response, many industry giants are returning to the domestic market.
As the most significant and high-profile event in the global logistics industry, FIATA World Congress 2025 is expected to gather over 1,200 delegates from more than 150 countries.
According to the State Bank of Vietnam (SBV), in the interbank market, the trend of decreasing overnight interest rates has continued, starting at 3.13% in the first session of last week and gradually decreasing over the sessions to 1.67% at the last session of the week. In total, overnight interest rates decreased by 1.46 percentage points within one week.
Huynh Tan Khanh, Secretary of the Party Committee of Ganh Hao, noted that the town strictly follows anti-IUU fishing directives and has partnered with local agencies to organise six awareness campaigns attended by nearly 500 fishermen. Some 130 boat owners and captains have also signed commitments to follow legal requirements and avoid entering foreign waters.
