Vietnam Sees 20,000 Businesses Suspended in Q1

Tuan Minh

10:07 28/03/2016

BizLIVE - Nearly 23,800 businesses were licensed in Vietnam in the first quarter this year, outnumbering suspensions.

Vietnam Sees 20,000 Businesses Suspended in Q1

The number of business closures in Vietnam increased 14% year-on-year in Q1. (Photo: Internet)

As many as 20,044 companies in Vietnam suspended operations in the first three months this year, representing an increase of 23.9% from a year earlier, according to the General Statistics Office (GSO).
In addition, 2,919 enterprises closed down, up 13.8% year-on-year, with most of them classified as small-sized for having registered capital of less than 10 billion dong ($446,000).
The number of businesses established in the three-month period rose 24.8% year-on-year to 23,767. Their registered capital swelled 67.2% to a combined 186 trillion dong ($8.3 billion).
The newly-licensed firms created an estimated 322,200 jobs, according to GSO.
According to the office’s survey, 29.2% of manufacturing firms said their performance improved in the quarter in comparison with the previous three months. Meanwhile, 27.1% of the companies said their faced hurdles.
As many as 53.3% of the surveyed firms expected a better outlook in the upcoming quarter while 11.2% of the respondents predicted worse situations.


Từ khóa: GSO