Vietnam's new businesses up 6.9% in Q1

Of the total number of new businesses, 363 were licensed in the agriculture, forestry, and fisheries sectors, rising 10% compared to last year.

The GSO report identified small-scale enterprises which have capital of below 10 billion VND (416,000 USD).

Industries recording increases in new business numbers include industry and construction, with 8,700 enterprises, up 6.8%, and services with 27,200 enterprises, up 6.9%.

During January - March, 23,600 firms resumed operations, up 2.4% against last year.

Meanwhile, about 53,400 businesses withdrew from the market during the reviewed period, up 24.5% year on year, demonstrating that enterprises have been facing difficulties in business and production.