These numbers represented a 7 percent year-on-year reduction in the number of new businesses but a 53.8 percent increase in capital.

As many as 10,079 enterprises registered to be set up in the first month of this year.

In January, the average registered capital per enterprise reached VND 15 billion, up 64.8 percent, while the number of registered employees at newly established enterprises was 107,914, an increase of 26.5 percent compared to the same period last year.

During the month, total registered capital of enterprises was VND 635.1 trillion, a year on year increase of 0.8 per cent, including VND 151.1 trillion from the new firms and VND 484 trillion (up 121.9 percent) from existing enterprises adding capital.

As many as 8,465 firms resumed operations in January, up 84.5 percent against the same period last year, raising the total number of businesses newly established and resuming operations to over 18,500.

The number of enterprises which have completed disclosure procedures rose by 16 percent to 1,802.

However, 10,804 companies temporarily suspended operations, up 25.3 percent year on year.

In January, there were 4,767 businesses not operating at their registered address. This is a new criterion for 2019.

Source: VNA