Business activities of enterprises have begun to recover after the COVID-19 pandemic was put under control, with the number of businesses returning to operation in October up by 29.8% compared to September.

Business activities of enterprises have begun to recover after the COVID-19 pandemic. (Illustrative image)

According to the socio-economic situation report of the General Statistics Office, 4,304 enterprises resumed their operation in October, an increase of 29.8% compared to the previous month.

In addition, the whole country saw 8,233 newly established enterprises with total registered capital of VND108.6 trillion (US$4.7 billion) and the number of registered employees at 58,800, an increase of 111.2% in the number of enterprises, 73.9% in the number of registered capital and 17.9% in the number of employees, respectively, compared to September.

During the 10-month period, the whole country witnessed 93,000 newly registered enterprises with a total registered capital of nearly VND1.3 quadrillion and a total registered labour force of 707,000 employees. The average registered capital of a newly established enterprise in 10 months reached VND13.9 billion, down 2.9% from the same period last year.

Since the beginning of the year, 35,300 enterprises have returned to operation, bringing the total number of newly established enterprises and enterprises returning to operation in the 10 months to 129,000. Thus, an average of 12,900 enterprises were established and returned to operation each month.

During the January-October period, 48,500 enterprises temporarily suspended their operations, an increase of 16% over the same period last year, while 35,000 enterprises stopped operating to wait for dissolution procedures, up 15.7%, and 13,600 enterprises completed dissolution procedures, up 0.8%.