Strong surge in new businesses established in January 2024

According to the records of the Business Registration Management Agency (Ministry of Planning and Investment), there has been a significant increase in the number of newly established businesses in January 2024, both in terms of the number of businesses and the registered capital...

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In particular, the number of newly established enterprises in January 2024 was 13,536 enterprises (an increase of 24.8% compared to the same period in 2023) with a registered capital of 151,451 billion VND (an increase of 52.8% compared to the same period in 2023).

According to the Business Registration Management Agency, there are 13 out of 17 sectors with an increase in the number of newly established enterprises compared to the same period in 2023, of which sectors with strong growth include: Other service activities (an increase of 64.4%); Arts, entertainment and recreation (an increase of 48.7%); Warehousing and storage (an increase of 44.3%); Wholesale and retail trade; repair of motor vehicles and motorcycles (an increase of 34.6%); Manufacturing industry (an increase of 31.9%); Education and training (an increase of 27.0%); Mining (an increase of 25.5%); Construction (an increase of 23.2%)…

However, the majority of newly established enterprises are small-scale (from 0 – 10 billion VND) with 12,432 enterprises (accounting for 91.8%, an increase of 26.7% compared to the same period in 2023), mainly in the Service sector with 10,177 enterprises, accounting for 75.2% of the total number of newly established enterprises, an increase of 24.4% compared to last year.

The Industry and Construction sector has 3,208 enterprises joining the market, accounting for 23.7% of the total number of newly established enterprises, an increase of 26.3% compared to the same period in 2023. The Agriculture, forestry and fisheries sector recorded 151 newly established enterprises, accounting for 1.1% of the total number of newly established enterprises, an increase of 20.8% compared to the same period last year.

All 6/6 regions across the country have seen an increase in the number of registered enterprises compared to the same period in 2023: Northern Midland and Mountainous Region (774 enterprises, an increase of 48.3%); Central Highlands (399 enterprises, an increase of 44.0%); Mekong Delta (1,021 enterprises, an increase of 30.1%); Southeast region (5,667 enterprises, an increase of 23.4%); Red River Delta (4,132 enterprises, an increase of 22.6%) and North Central and Central Coastal regions (1,543 enterprises, an increase of 19.2%).

Regarding enterprises resuming operations, according to the Business Registration Management Agency, there were 13,799 enterprises resuming operations in January 2024. Among them, the real estate business had the highest increase in the number of enterprises resuming operations (29.3%), followed by information and communication (11.6%), manufacturing industry (6.9%)…

Regarding enterprises withdrawing from the market, the Business Registration Management Agency stated that in January 2024, there were 53,888 enterprises withdrawing from the market, an increase of 22.8% compared to the same period in 2023. Among them, the majority were enterprises choosing the form of temporary suspension of business in the short term (accounting for 81.5%).

Specifically, the number of enterprises temporarily suspending business was 43,925 enterprises, an increase of 25.5% compared to the same period in 2023. The majority of enterprises temporarily suspending business in the month had a short period of operation, less than 5 years, with 19,611 enterprises (accounting for 44.6%); mainly focused on small-scale enterprises (below 10 billion VND) with 39,625 enterprises (accounting for 90.2%, an increase of 25.2% compared to the same period in 2023).

The number of enterprises waiting to go through dissolution procedures was 7,798 enterprises, an increase of 14.0% compared to the same period in 2023. The enterprises waiting to go through dissolution procedures mainly focused on small-scale enterprises with capital below 10 billion VND, with 6,941 enterprises (accounting for 89.0%, an increase of 14.9% compared to the same period in 2023).

And the number of dissolved enterprises was 2,165 enterprises, an increase of 6.2% compared to the same period in 2023. Among them, 10 out of 17 main business sectors had an increase in the number of dissolved enterprises compared to the same period in 2023. The majority of dissolved enterprises in one month in 2024 had a short period of operation (less than 5 years) with 1,587 enterprises (accounting for 73.3%) and mainly focused on small-scale enterprises with capital from 0 – 10 billion VND with 1,879 enterprises (accounting for 86.8%, an increase of 6.7% compared to the same period in 2023).

SOURCEvneconomy
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