A clothing processing line for export. — Photo thanhtra.com.vn

Although the business picture has many bright spots, the impacts of the COVID-19 pandemic have eroded the strength of many businesses, causing difficulties for cash flow in production and business activities, according to the Business Registration Management Agency.

The capital scale of enterprises entering the market is on a downward trend, reaching VNĐ11.9 billion (US$506.3 million) last month, an increase of 8.6 per cent compared to the previous month. However, it was a decrease of 25.9 per cent compared to the same period last year.

The General Statistics Office (GSO) has just announced that the number of enterprises registering for establishment and returning to operation in the first nine months reached 163,300, a year-on-year growth of 38.6 per cent.

On average, there are 18,100 newly-established and re-operating businesses per month.

Total registered capital added to the economy in the first nine months of this year was VNĐ3.9 quadrillion, up 36 per cent over the same period last year.

The number of enterprises withdrawing from the market was 112,700, an increase of 24.8 per cent compared to the first nine months of last year.

On average, 12,500 businesses withdraw from the market every month.

By economic sector, there were 1,543 newly-established enterprises in the agriculture, forestry and fishery sectors in the first nine months of this year, up 5.3 per cent over the same period last year; 27,900 enterprises in industry and construction, up 20.8 per cent; and 83,300 enterprises in the service sector, up 36.8 per cent.

To support businesses, GSO General Director Nguyễn Thị Hương suggested that ministries and branches need to ensure the adequate supply of raw materials and energy to meet enterprises' requirements of production and business recovery and socio-economic development; remove difficulties and obstacles for important industrial projects; and support factories to maintain and restore production to keep orders.

Along with that, in the context of deep global integration, rapidly increasing export turnover, and rising use of trade remedies, supporting Vietnamese exporters would play an important role in protecting and developing export markets, said Hương.

Many manufacturing enterprises also suggested that the Government continue to simplify customs procedures and make them more transparent to reduce costs and enhance predictability for businesses.

Accordingly, it is necessary to quickly build and use systems for the electronic exchange of data between enterprises, customs and related agencies.