Of these, over 2,000 firms were completely dissolved, reflecting an 8.7 per cent year-on-year increase, while 14,000 companies suspended operations, the number depicting a 25 per cent rise over the same period last year.

Most of these businesses were small-scale, with charter capital of less than VND10 billion (US$467,300).

Last month, the country registered nearly 6,900 new enterprises, with a total registered capital of VND45.8 trillion ($2.1 billion), up 0.47 per cent and 44.6 per cent, in terms of numbers and capital, respectively.

The average registered capital for each company was pegged at VND6.6 billion ($308,400) in February, representing a 43.5 per cent increase over the previous month.

These businesses employed 93,600 labourers, 9.5 per cent lower than January.

More than 1,500 firms also backed operations, posting a 47 per cent decrease.

During the two-month period, the country saw the establishment of around 13,800 new businesses, with total capital of VND77.5 trillion ($3.6 billion), or a 26 per cent year-on-year growth in terms of the number of newly established firms.

The number of newly established firms in some sectors, including art and entertainment, rose by 241 per cent; 88 per cent in real-estate; 58 per cent in agriculture, forestry and seafood; 55 per cent in finance, banking and insurance and 50 per cent in construction.

The average registered capital for each company during the two-month period was down 3.4 per cent to VND5.6 billion against the corresponding period last year.

The expected number of labourers was 197,200, posting a 19 per cent year-on-year increase.

More than 4,300 businesses backed to operations in the first two months of the year.

Experts said the figures showed that the economy was seeing improvement. 

VNS