HANOI, March 28 (Xinhua) -- The number of newly-registered firms in Vietnam in March alone is estimated at over 12,000, posting the highest level in the past six years, according to the Ministry of Planning and Investment on Tuesday.
In the first quarter (Q1) of 2017, nearly 26,500 enterprises were established with a total registered capital of over 270 trillion Vietnamese dong (11.8 billion U.S. dollars), up 11.4 percent in volume and 45.8 percent in value year-on-year, reported the ministry's Enterprises Development Department.
Accordingly, the average registered capital per enterprise in the Q1 reached 10.2 billion Vietnamese dong (447,368 U.S. dollars), up 30.9 percent over the same period of 2016.
Meanwhile, existing businesses have registered to increase their capital to over 325.4 trillion Vietnamese dong (14.27 billion U.S. dollars), bringing total capital poured into the economy in January-March period to over 596 trillion Vietnamese dong (26.14 billion U.S. dollars), up 8 percent year-on-year.
However, in the Q1, some 9,900 enterprises temporarily ceased operations while 10,700 enterprises are in the process of filing for dissolution. Around 3,700 enterprises have completed procedures for dissolution or termination, up 12 percent year-on-year. The majority of businesses that withdrew from the market are small firms, said the department.
Most firms suspended their activities in order to find new directions or prepare new business plans, Tran Ngoc Nam, deputy director of the Vietnamese capital Hanoi Department of Planning and Investment, was quoted by Vietnam's state-run news agency VNA as saying on Tuesday. Enditem
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