VIETNAM HAS OVER 15,000 NEW MARKET ENTRANTS IN OCT

October saw 15,435 companies being established with total pledged capital of VND126 trillion, showed data of the General Statistics Office (GSO).

In comparison to the same period last year, the number of new businesses set up in October this year was 18.5% higher and their capital increased by 17.7%. Their employment rose 71.2% year-on-year.

The number of businesses that suspended operations in October was 5,500, a 33% increase against the previous month and a nearly 36% rise versus 2022.

From January to October, Vietnam had 131,800 new companies established with total pledged capital of VND1.2 quadrillion. While this reflects a 4.7% increase in the number of businesses, it also shows a 12% decrease in pledged capital. These businesses have collectively created 880,000 jobs, up 5.4% year-on-year.

According to the GSO, nearly 18,400 businesses were established and resumed operations each month in the nine-month period.

In the first 10 months of this year, the number of businesses temporarily suspending operations reached 81,000, a 22% year-on-year increase. On average, 14,700 businesses exited the market per month.

Source: The Saigon Times