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Businesses returning to operation up 30 per cent

The number of enterprises returning to operation increased by 29.8 per cent month-on-month.


The number of enterprises returning to operation increased by 29.8 per cent month-on-month.— Photo


The number of newly-established enterprises surged in both quantity and registered capital last month compared to the previous month.

The number of enterprises returning to operation increased by 29.8 per cent month-on-month.

Specifically, the whole country had 8,233 newly-established enterprises last month, with registered capital of VND108.6 trillion (US$4.75 billion) and 58,800 employees, an increase of 111.2 per cent in quantity, 73.9 per cent in registered capital and 17.9 per cent in terms of the number of employees compared to September.

However, this figure still decreased by 32.5 per cent in quantity and 34.4 per cent in registered capital, down 18.8 per cent in the number of employees over the same period last year.

Across the whole country, 4,304 companies returned to operation, up 29.8 per cent compared to September and down 14.7 per cent over the same period last year.

In addition, there were 3,492 enterprises registering to suspend business for a definite period, up 55.9 per cent.

There were 3,048 units that stopped working while waiting for dissolution procedures, up 21.5 per cent and 806 organisations completed dissolution procedures, up 33 per cent.

Generally, the whole country saw 93,700 newly-registered companies with a total registered capital of nearly VND1.3 quadrillion with 707,700 employees in the first 10 months of this year, down 15.7 per cent in the number of enterprises; 18.2 per cent in registered capital and 16.8 per cent in the number of employees over the same period last year.

The General Statistics Office said that the average registered capital of a newly established enterprise reached VND13.9 billion in 10 months, down 2.9 per cent over the same period last year.

If including more than VND1.88 quadrillion of additional registered capital of enterprises, the total amount of additional capital added to the economy in the first 10 months of this year is more than VND3.18 quadrillion, down 18.2 per cent compared to the same period last year.

There were 35,300 companies returning to operation, down 6.3 per cent year-on-year.

Thus, in total in the first 10 months of this year, the number of newly-established and re-operating enterprises reached 129,000, down 13.3 per cent over the same period last year. On average, there were 12,900 new and returning companies per month.

Meanwhile, the number of enterprises suspending business for a definite period was 48,500, up 16 per cent over the same period last year.

Up to 35,000 units shut down and were waiting for dissolution procedures, up 15.7 per cent; 13,600 companies completed dissolution procedures, up 0.8 per cent.

To create momentum for businesses to overcome the crisis, the Government issued Decree No 92/2021/ND-CP last week detailing the implementation of Resolution No 406/NQ-UBTVQH15 of the National Assembly Standing Committee on a number of solutions to support businesses and people affected by the COVID-19 pandemic.

The Decree guides four groups of tax exemption and reduction solutions to support businesses and people to overcome difficulties caused by the impact of COVID-19.

These include reducing corporate income tax this year for businesses and organisations with a revenue of no more than VND200 billion and a decrease in revenue compared to 2019.

Tax will be exempt in the third and fourth quarters of the year for business households and individuals that have production and business activities in different locations affected by the COVID-19.

Along with that, value-added tax rate for groups of goods and services in industries and late payment interest arising last year and this year for businesses and organisations that incur losses last year will also be reduced.

Source: VNS


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