The number of newly established enterprises in July was estimated at 13,700, up 4.3% from a year ago, according to the General Statistics Office.

Such enterprises pledged to pour in 126.9 trillion VND (5.36 billion USD) into the economy, a year-on-year increase of 2.4%.

The new businesses set up in July raised the total figure for the first seven months of 2023 to 89,600, up 0.2% over the same period last year.

However, their total registered capital and employees fell by 17.1% and 5.2% respectively.

The average capital per new enterprise was 9.3 billion VND, down 17.3% from last year.

A breakdown of sectors shows 945 new enterprises are involved in agriculture, 21,300 are in industry and construction, and 67,300 are service businesses.

The January-July period also saw 42,300 enterprises return to business, while nearly 6,900 filed for suspended operation and more than 5,200 were awaiting completion of dissolution procedures.

According to experts, the figures on the status of businesses suggest that Vietnam’s economic recovery process remains challenging, which requires more effective implementation of the government’s support policies.

NDO