The report from the Ho Chi Minh City Statistics Office on the socio-economic situation in the first two months of 2024 shows that the city has granted licenses to 6,283 businesses with a registered capital of 56,851 billion dong, an increase of 18.2% in licenses and 44.4% in capital compared to the same period.
Among them, the most licensed businesses are in the trade and service sectors, followed by the industrial and construction sectors. If we count the number of businesses returning to the market, in the first two months of the year, the city had 10,553 businesses participating in the market, but 14,703 businesses withdrew from the market.
This indicates that for every 10 businesses participating, there are 14 businesses withdrawing, reflecting that the domestic business environment has not improved significantly.
Business activities are still facing difficulties |
On a national scale, the picture of new businesses entering and withdrawing from the market is also noteworthy. Data from the General Statistics Office shows that in the first two months of this year, the whole country had more than 22,100 newly established businesses with a total registered capital of 218,700 billion dong, an increase of 12.4% in the number of businesses and 32.8% in registered capital.
The total number of newly established businesses and businesses returning to operation in the first two months of the year reached nearly 41,100 businesses, up 8.5% compared to the same period last year. On average, more than 20,500 new businesses were established and returned to operation each month.
From another perspective, in the past two months, the number of temporarily suspended businesses was nearly 49,300, an increase of 27.1% compared to the same period; 10,000 businesses temporarily ceased operation and were waiting for dissolution procedures, an increase of 6.5%; nearly 3,700 businesses completed dissolution procedures, an increase of 14.5%. On average, nearly 31,500 businesses withdrew from the market each month.
In terms of Vietnam’s economy in 2024, Dr. Can Van Luc and the team of authors from the BIDV Training and Research Institute believe that the domestic macro economy is expected to be a mix of favorable and difficult factors. The positive factors from 2023 will continue, but the economy still faces challenges, with one of the biggest barriers being the negative impact from outside, especially the slowdown in growth of the US, Japan, and China… Business activities still face many difficulties.
“To promote recovery and economic growth, it is necessary to focus on traditional growth drivers and develop and exploit new growth drivers. Emphasize existing growth drivers by diversifying export markets, better leveraging the signed free trade agreements and recently upgraded strategic partnerships. Promote efficient disbursement of public investment, according to plans, become a catalyst for other sources of capital; stimulate private investment and domestic consumption” – Dr. Can Van Luc said.
Thai Phuong
