There were 111,200 newly-established firms in the first ten months of 2020, according to the General Statistics Office (GSO). 

The total saw a year-on-year decline of 2.9% while average registered capital of a newly established enterprise was VND 14.3 billion, representing an increase of 14.4%. 

Of the figure, 12,200 enterprises were founded in October alone with a total registered capital of VND 165,000 billion (US$ 7.1 billion). Average registration capital of a newly-established valued VND 13.6 billion. 

Meanwhile, 5,044 enterprises resumed operation, 3,579 enterprises suspended operations, and over 1,400 enterprises were dissolved. 

The GSO said business registration was positive in October in comparison with the previous month as evidenced by sharp increase of new companies (18.4%).

In January-October period, up to 37,700 enterprises resumed operation but 85,500 enterprises were dissolved, up 15.1% against the same period last year./.