Newly established firms estimated at 99,000 in first nine months of 2020

The average capital of a new company was VND14.14 billion, as stated by the General Statistics Office.

Such enterprises were expected to hire about 778,000 workers, down 16.3% compared with the same period in 2019.

With the additional capital registered by existing companies, the total amount of capital injected into the Vietnamese economy in the first nine months of the year was estimated at VND3,600 trillion (US$155.3 billion), up 19.2% from a year ago.

The January-September period also saw the return of 34,600 enterprises, up 25.5% compared with the same period in 2019, while the number of those forced into temporary closure jumped by 81.8% to 38,600.

A survey of manufacturing firms shows that 45.6% expect the business situation to improve in the fourth quarter, while 19% predict a worsened state in the next three months.

With regards to export orders, more than a third of surveyed enterprises expect to have more orders in the final three months of 2020 while one fifth project their export orders will decline in the October-December period.