New and resuming enterprises up 8.5% in first two months of 2024

The figure was released by the Ministry of Planning and Investment’s Business Registration Agency (BRA).

Specifically, there were 22,128 new enterprises, with a total capital of nearly 219 trillion VND (8.9 billion USD), up 12.4% in number and 32.8% in registered capital.

The average registered capital reached 9.9 billion VND, up 18.2% year-on-year.

According to the BRA, new enterprises were seen across 12 out of 17 industries, with the highest growth in the mining sector (28.8%), followed by logistics (26.5%) and other services (21.5%).

However, many sectors witnessed reductions in the number of new enterprises, such as science-technology, consultation and design services, advertising, power generation and distribution.

The first two months of 2024 saw nearly 19,000 enterprises resuming their operation, up 4.4% over the same period last year, but those withdrawing from the market amounted to nearly 63,000, a year-on-year rise of 22.5%.

Such figures show that the business community still struggled with their activities.

Vietnam’s Purchasing Managers’ Index in February reached 50.4, indicating a slight growth in the manufacturing sector.