Vietnam's firm establishment up 11.9 pct y-o-y in Jan-Feb period

Nearly 20,300 enterprises were estimated to be formed in Vietnam in the first two months of this year, posting an increase of 11.9 percent year on year, according to the country's General Statistics Office on Wednesday.

Registered capital of the new enterprises declined 17.1 percent on year to 277.6 trillion Vietnamese dong (12.2 billion U.S. dollars), said the office.

Compared to the same period last year, the formation of new firms rose 5.9 percent in the industry and construction sector, 14.5 percent in the services sector, and remained unchanged in the agriculture, forestry and fishery sector.

Between January and February, around 22,300 firms which previously ceased operations due to difficulties, resumed their activities, up 102.5 percent on year. However, in the same period, some 22,400 firms were estimated to withdraw from the market each month, according to the office.

Last year, Vietnam saw 116,800 enterprises established with total registered capital of over 1,611 trillion Vietnamese dong (71.1 billion U.S. dollars), down 13.4 percent in quantity and 27.9 percent in capital against 2020.