Vietnam saw 12,182 businesses established in October, up 3 percent from the previous month, according to the General Statistics Office (GSO).

As many as 12,182 businesses were established in October, up 3 percent from the previous month, statistics show 

The office said the new enterprises had total registered capital of 143.6 trillion VND (6.19 billion USD), an increase of 2.5 percent over September. They employed 94,700 workers.

The average registered capital of a new enterprise in the month reached 11.8 billion VND (509,188 USD), rising 0.5 percent over the same period last year.

There were 7,247 enterprises resuming operation, three times higher than the figure of the previous month and up 109.9 percent year-on-year.

At the same time, 2,086 enterprises suspended their business, up 37 percent from September and 9 percent from a year earlier.

GSO data also revealed that the number of enterprises that stopped operating and were awaiting dissolution procedures also increased sharply in October, totalling 5,012, up 84.5 percent from September and 98 percent from the same month last year.

In the first 10 months of 2019, the country saw 114,400 newly registered enterprises with total registered capital of more than 1.4 quadrillion VND (61.8 billion USD), employing more than 1 million workers, a year-on-year increase of 4.4 percent in the number of enterprises, 28.5 percent in registered capital and 11 percent in the number of employees, respectively. 

The average registered capital of a newly established enterprise in the 10 months reached 12.5 billion VND (539,283 USD), up 23.1 percent over the same period last year. Calculating the additional 1.9 quadrillion VND (81.6 billion USD) registered capital of 33,000 existing enterprises, total registered capital added to the economy in the first 10 months of 2019 was 3.3 quadrillion VND (143.5 billion USD). 

In the first 10 months, there were about 35,000 enterprises resuming operations, a 25 percent rise over the same period in 2018.