OVER 13,000 NEW BUSINESSES ESTABLISHED IN OCTOBER

Some 13,000 businesses were set up in October, a 13.6% rise against September, with total registered capital of VND106,900 billion.

In the January-October period, 125,800 businesses were established with total registered capital of VND1,379 trillion and 835,000 employees, according to the General Statistics Office. Compared to the same period last year, the number of businesses rose 34.3%, capital increased 5.7% and employment increased 18%.

Around 52,700 companies resumed operations in October, which rose 49% year-on-year, bringing the total number of businesses that restarted operations in the January-October period to 178,500.

On average, there were about 17,800 newly-established and re-opened firms each month.

The service sector had the most newly founded businesses, followed by the industrial and construction sectors and the agro-forestry-fishery sector.

However, the market saw 4,048 enterprises suspending operations in October, rising 38.3% from September, up 16.2% year-on-year.

Some 1,602 companies completed procedures for dissolution, a 98.8% increase compared to last year.

Source: The Saigon Times