Nearly 52k New Firms Registered in First 4 Months of 2024

The General Statistics Office reported that in the first four months of 2024, the whole country had 51.6 thousand newly registered enterprises with a total registered capital of nearly 508 thousand billion VND, a 3.4% increase in the number of enterprises compared to the same period last year.

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In April, the entire country saw over 15.3 thousand newly established enterprises with a registered capital of 175.8 thousand billion VND and a registered workforce of over 95 thousand employees, marking an 8.4% increase in the number of enterprises, a 55% increase in registered capital, and a 9% decrease in the number of employees compared to March 2024. Compared to the same period last year, there was a 4.1% decrease in the number of enterprises, a 13.7% increase in registered capital, and a 20.2% decrease in the number of employees. The average registered capital per newly established enterprise in the month reached 11.5 billion VND, a 42.9% increase compared to the previous month and an 18.6% increase compared to the same period last year. Additionally, the country also saw 8,307 enterprises resume operations, an increase of 175.1% compared to the previous month and a decrease of 13.6% compared to the same period in 2023.

Calculating for the first four months of 2024, the entire country registered 51.6 thousand newly established enterprises with a total registered capital of nearly 508 thousand billion VND and a total registered workforce of 353.8 thousand employees, an increase of 3.4% in the number of enterprises, an increase of 9.3% in registered capital, and an increase of 6.8% in the number of employees compared to the same period last year. The average registered capital per newly established enterprise in the first four months of 2024 reached 9.9 billion VND, a 5.7% increase compared to the same period in 2023. If we include the 533.4 thousand billion VND of additional registered capital from 14,143 enterprises that increased their capital, the total amount of registered capital added to the economy in the first four months of 2024 is 1,041.3 thousand billion VND, a 2.6% decrease compared to the same period last year. Additionally, over 29.7 thousand enterprises resumed operations (an increase of 2.4% compared to the same period in 2023), bringing the total number of newly established and resumed enterprises in the first four months of 2024 to 81.3 thousand, an increase of 3 % compared to the same period last year. On average, 20.3 thousand enterprises are newly established or resume operations per month.

By economic sector, in the first four months of this year, there were 507 newly established enterprises in agriculture, forestry, and fishery, an increase of 1.2% compared to the same period last year; 12.5 thousand enterprises in industry and construction, an increase of 4%; and 38.6 thousand enterprises in the service sector, an increase of 3.2%.

 

Also, in April, 7,618 enterprises registered for temporary suspension of business with a time limit, an increase of 84.1% compared to the previous month and an increase of 6.4% compared to the same period in 2023; 4,656 enterprises suspended operations pending dissolution procedures, a decrease of 6.5% and a decrease of 20.2%; 1,344 enterprises completed dissolution procedures, a decrease of 4.8% and a decrease of 10.9%.

In the first 4 months of 2024, the number of enterprises temporarily suspending business with a time limit was 60.9 thousand, an increase of 21.9% compared to the same period last year; 19.1 thousand enterprises suspended operations pending dissolution procedures, a decrease of 9 %; 6.4 thousand enterprises completed dissolution procedures, an increase of 4.9%. On average, 21.6 thousand enterprises withdraw from the market per month.

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