The capital registered by a new firm averaged VND 10.1 billion (USD 444,000), up 3.4 percent year on year, according to the General Statistics Office (GSO).

Over VND 1,192 trillion have been added into the registered capital of operational businesses in the first six months, bringing the total capital pumped into the economy to more than VND 1,841 trillion (USD 81.1 billion).

Over 64,500 new enterprises set up in first half of 2018.

However, the number of employees registered to work for these new businesses fell by 19 percent year on year to about 508,000.

In the reviewed period, 16,449 companies resumed operations, up 7 percent from the period last year.

The GSO also reported that 52,803 firms have temporarily suspended operations during the period, up 39 percent year-on-year.

The rises in the number of newly-established firms and registered capital continued to remain high in the first half of the year throughout 2014 – 2018, said GSO General Director Nguyen Bich Lam.

It demonstrates that investors are likely to have gain more confidence in the domestic business climate thanks to the government’s efforts to improve the legal framework on business and investment and remove barriers for enterprises, he added.

Most of new companies are operating in sectors such as wholesale and retail; car and motorcycle repair and maintenance services; construction; and manufacturing and processing.

The southeast region continued leading the country in the number of newly-established enterprises and registered capital, with 27,279 companies and VND 292.5 trillion, accounting for 42.3 percent and 45.1 percent of the total.

Source: VNA