Workers at the Dai Dong Tien plastic company in Ho Chi Minh City label and package products.Vietnam has some 111,800 newly established and reactivated enterprises in five months. (Source: VNA)

On average, approximately 22,400 businesses entered or re-entered the market each month.

In May alone, over 15,100 new enterprises were set up, registering a total capital of 156.7 trillion VND (around 6.02 billion USD) and 98,100 workers. While the number of new firms declined marginally by 0.6% and employment dropped by 23.1% compared to April, the registered capital recorded a notable 17.3% rise.

Compared to May 2024, last month posted strong growth, with new enterprises up 6.1%, registered capital up 16.6%, and employees up 29.3%. The average capital per business reached 10.4 billion VND, an increase of 18% month-on-month and 9.9% year-on-year.

Besides, over 8,000 businesses resumed operations in May, falling 11.1% from April but still growing 18.8% against the same month last year.

From January to May, nearly 66,800 new enterprises were licensed, representing a 0.6% year-on-year rise. These firms brought in 647.1 trillion VND in total registered capital and employed some 453,900 workers, up 6.2%.

A standout figure was the additional capital injected into the economy, which reached almost 2.28 quadrillion VND over the period, a year-on-year jump of 83.8%, indicating robust investment expansion among existing businesses.

Meanwhile, enterprises resuming operations during the five months also surged, totalling more than 45,000, up 32.2% from the same period last year.

The services sector continued to drive growth, with nearly 50,900 new businesses, up 2.0%. The industry and construction sector recorded over 15,200 new firms (down 3.9%), and the agriculture, forestry, and fisheries sector saw 627 new entries (down 1.7%).

Despite the positive momentum, business closures also rose. In the first five months, nearly 74,600 enterprises temporarily suspended operations (up 12.8%), over 27,500 were in the process of dissolution (up 18.3%), and nearly 9,600 completed dissolution procedures (up 15.7%) compared to the same period in 2024.

That means more than 22,300 businesses withdrew from the market each month, almost equivalent to the number of those newly established or resuming operations, showing the market was dynamic but also full of competition and challenges, said the NSO.