Some 51,600 new firms established in four months

Vietnam has more than 15,300 newly established enterprises in April. - Illustrative image (Photo: VNA)– As many as 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, representing year-on-year increases of 3.4% in the number of businesses and 9.3% in the capital, according to the General Statistics Office (GSO).These new businesses registered a total of 353,800 workers, a rise of 6.8% over the same period last year.The average registered capital of a new enterprise in the first four months of 2024 rose by 5.7% year on year to 9.9 billion VND.In April, Vietnam had more than 15,300 newly established enterprises with registered capital of 175.8 trillion VND, up by 8.4% in number of businesses and 55% in registered capital month on month.The average registered capital of a new enterprise in April stood at 11.5 billion VND, up 42.9% over the previous month.In addition, 8,307 businesses returned to operation in April, an increase of 175.1% over the previous month.Along with 533.4 trillion VND from increasing capital of 14,143 existing enterprises, the total registered capital poured into the economy in the first four months was more than 1 quadrillion VND, down 2.6% compared to the same period last year.The GSO also said that about 29,700 businesses resumed their operation in the first four months, an increase of 2.4% over the same period in 2023, bringing the total number of newly established businesses and businesses returning to operation during the four months to 81,300 units, an increase of 3% over the same period last year.Meanwhile, in the first four months, the number of enterprises temporarily suspending operation was 60,900, an increase of 21.9% over the same period last year. About 19,100 businesses stopped their operations to wait for dissolution procedures, down 9%, and 6,400 businesses completed dissolution procedures, an increase of 4.9%.Of which, 7,618 businesses registered in April to temporarily suspend business, an increase of 84.1% compared to the previous month. About 4,656 businesses stopped operation to wait for dissolution procedure s, down 6.5%./.

May 02, 2024 14:39 UTC

Growth engines rev up in first four months

The Vietnamese economy is expected to carry momentum in the months to come. (Photo: VNA)The Vietnamese economy is expected to carry momentum in the months to come after experiencing improvements in foreign direct investment (FDI) attraction, industrial production , and retail sales , among others, in the first four months of this year, experts have said.The General Statistics Office (GSO) reported that the macro economy remained stable, inflation was controlled and major economic balances were ensured during the period.Specifically, the country’s April consumer price index (CPI) inched up 0.07% month-on-month, and 4.4% year-on-year. In the four months, it grew by 3.93% year-on-year, and the core inflation was up 2.81%.State budget revenue was stood at 175.6 trillion VND (6.91 billion USD) last month and 733.4 trillion VND in the January-April period, equivalent to 43.1% of the yearly estimate, and up 10,1% year-on-year.In April, the country’s total trade value reached some 61.2 billion USD, down 5.2% from the previous month, but up 15% compared to the same period last year. The figure hit 238.88 billion USD in the first four months, up 15.2% year-on-year, with exports up 15%, imports up 15.4%, and a trade surplus of 8.4 billion USD.For FDI disbursement, it increased 7.4% year-on-year to 6.28 billion USD, the highest in a January-April period recorded over the past five years.Former General Director of the GSO Nguyen Bich Lam, however, said that the recovery pace remains modest, elaborating that the index of industrial production in April edged up only 0.8% from the previous month.Moreover, agriculture – a pillar of the national economy – is facing drought and saltwater intrusion, which would affect food production and husbandry, Lam added.Given the global economic volatility and extreme weather patterns, the agro-forestry-fishery sector is forecast to encounter more difficulties in the time ahead, he said.To help the national economy sail through headwinds and recover quickly and sustainably, economists have suggested the Government and localities focus on boosting domestic consumption, raise service quality, and reduce air fares to promote domestic tourism and attract more international visitors.They also suggested the roll-out of preferential credit packages for major sectors, and tax incentives, the completion of legal documents on exports and imports, trade promotion activities, and market diversification.Businesses should bring into full play opportunities and commitments of trade agreements to boost exports, keep updated on market information, and seek new orders and markets, they said.Lam held that the Government should implement fiscal and monetary policies flexibly, and work to reduce monetary inflation pressure on the economy, adjust exchange rates flexibly to stabilise the prices of imported raw materials, and improve the competitiveness of home-made products./.

May 02, 2024 14:39 UTC

Finance      African Press Release      Lifestyle       Hiring       Health-care       Online test prep Corona       Crypto      Vpn      App Review      Company Review      Game Review      Travel      Technology