On April 29, the General Statistics Office of Vietnam published a report on business registration over the first four months of 2024. According to the report, over 15,3 thousand new businesses were registered with a total registered capital of 175.8 trillion VND in April 2024, representing an 8.4% increase in the number of businesses and a 55% increase in registered capital compared to March 2024.
During the first four months of 2024, 51.6 thousand new businesses were registered, with a total registered capital of nearly 508 trillion VND, a 3.4% increase in the number of businesses and a 9.3% increase in registered capital compared to the same period last year.
Businesses entering and withdrawing from the market in the first four months of 2024 (source: General Statistics Office)
The average registered capital of a newly established business in the first four months of 2024 was 9.9 billion VND, a 5.7% increase compared to the same period in 2023. If we include the 533.4 trillion VND of additional registered capital from 14,143 businesses increasing their capital, the total additional registered capital in the economy in the first four months of 2024 was 1,041.3 trillion VND, a 2.6% decrease compared to the same period last year.
In addition, over 29.7 thousand businesses resumed operations (an increase of 2.4% compared to the same period in 2023), bringing the total number of newly established and resumed businesses in the first four months of 2024 to 81.3 thousand, a 3% increase compared to the same period last year. On average, 20.3 thousand businesses were newly established or resumed operations per month.
By economic sector, 507 new businesses were established in the agriculture, forestry, and fishery sector in the first four months of this year, an increase of 1.2% compared to the same period last year; 12.5 thousand businesses in the industry and construction sector, an increase of 4%; and 38.6 thousand businesses in the service sector, an increase of 3.2%.
Also in April 2024, 7,618 businesses registered for temporary suspension of business activities, 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 businesses suspended operations pending dissolution procedures, a decrease of 6.5% and a decrease of 20.2%; and 1,344 businesses completed dissolution procedures, a decrease of 4.8% and a decrease of 10.9%.
In the first four months of 2024, 60.9 thousand businesses temporarily suspended business operations, an increase of 21.9% compared to the same period last year; 19.1 thousand businesses suspended operations pending dissolution procedures, a decrease of 9%; and 6.4 thousand businesses completed dissolution procedures, an increase of 4.9%.
On average, 21.6 thousand businesses withdrew from the market per month, while only 20.3 thousand new businesses were established or resumed operations.
