Nearly 102,300 new enterprises were established in nine months of this year, a new record so far, with a total registered capital of over 1.29 trillion VND (56.08 million USD), reported the General Statistics Office.

The figures showed increases of 5.9 percent in the number of enterprises and 34 percent in registered capital year-on-year.

The average registered capital of each new firm is 12.6 billion VND, the highest seen so far, demonstrating better health of the newcomers.

Meanwhile, 27,600 firms resumed their operations in the period, up 20 percent year-on-year.

Newly-established firms employed 929,800 workers, up 13.4 percent from the same period last year.

Among the new firms, about 1,500 operated in agro-forestry-fisheries, accounting for 1.5 percent. There were 27,500 in industry and construction and 73,300 in services, accounting for 26.9 percent and 71.6 percent, respectively.

All economic zones saw increases in the number of new businesses, including the Red River Delta up 8 percent, the northern and midland mountainous region 0.1 percent, the north central and coastal central region 5.7 percent, the Central Highlands 13.4 percent, the southeast 5.2 percent and the Mekong River Delta 1.6 percent.

Enterprises that suspended their operations numbered 21,200, down 7.9 percent annually while 28,200 others stopped operation to wait for dissolution.

In order to improve corporate competitiveness, Nguyen Minh Thao, head of the Central Institute for Economic Management’s Business Environment and Competitiveness Department suggested stepping up reform and start-ups, thus contributing to economic growth.