Average registered capital was VND 11.3 billion (USD 489,640) per company in 2018, up 10.2 percent, said a press conference of the General Statistics Office (GSO) in Hanoi on December 27.

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(Photo for illustration: tapchitaichinh.vn)

The number of enterprises resuming their operations was around 34,000, up 28.6 percent compared to the previous year.

The total number of newly-established firms and firms resuming operations hit more than 165,000 companies, breaking the record of around 153,000 firms last year.

In the first 11 months of 2018, more than 121,200 businesses were set up with VND 1.2 quadrillion worth of newly registered capital and VND 2.2 quadrillion worth of additional capital.

Close to 31,870 firms resumed operation in the January - November period, up 30.9 percent from the same period last year. These firms operational again brought up the economy’s total number of company to 153,100.

However, the number of firms suspending and dissolving operation rose alarmingly during the period, up 49.3 percent and 37.4 percent to over 83,100 and 14,800, respectively. Most of the dissolved companies were those with capital of below VND 10 billion.

Source: VNA