A garment factory in Vietnam. (Photo: VNA)

In October alone, the country recorded nearly 14,200 new enterprises with total registered capital of 153.5 trillion VND (6.07 billion USD). The figures represented a 9.8% decline in the number of firms, and an increase of 9.5% in capital. The average registered capital of a newly-established enterprise in the month reached 10.8 billion VND, up 30.8% over the previous month and up 21.4% over the same period last year.

Meanwhile, as many as nearly 8,700 enterprises resumed their operations in October, up 33.5% from the previous month and up 53.7% year-on-year.

During the January-October period, the country saw nearly 136,100 new enterprises set up with total registered capital of nearly 1,312 trillion VND, an increase of 1.9% in the number of enterprises and a rise of 4.1% in registered capital. The average registered capital of a newly-established enterprise in the 10 months of 2024 reached 9.6 billion VND, an increase of 2.2% compared to the same period in 2023. |

In the reviewed period, more than 66,200 enterprises resumed their operations, an increase of 27.7% over the same period in 2023.

On the opposite side, over 92,100 enterprises temporarily halted operations in the last 10 months, an increase of 13.6% year-on-year. More than 63,700 companies ceased operations awaiting dissolution procedures, up 25.6%, and nearly 17,400 businesses completed dissolution procedures, a year-on-year rise of 20.5%.

As a result, a total of 173,200 enterprises withdrew from the market in the first 10 months of 2024, up 18.4% year-on-year.