The country saw approximately 12200 new enterprises set up in October this year. (Illustrative image)

NDO – Business registration in October saw improvement over the previous month with the number of newly established enterprises increasing by 18.4% over the figure from September, according to the General Statistics Office.

The country saw approximately 12200 new enterprises set up in October this year with total registered capital of VND165.6 trillion and a total of 72400 registered employees.

The average registered capital per new enterprise is VND13.6 billion, down 31.2% from the previous month but up 15.1% over the same period last year.

In addition, the economy welcomed 5044 enterprises returning to operation (up 10.4% compared to the previous month) while 3293 enterprises registered to temporarily suspend their operation, 3579 enterprises stopped operation waiting for dissolution procedures, and 1413 enterprises completed dissolution procedures.

In the ten-month period, the country had nearly 111200 newly established enterprises, down 2.9% over the same period last year but the average registered capital per enterprise reached US$14.3 billion, up 14.4% over the same period in 2019.

37700 enterprises resumed operation during the period, up 8.2% over the same period last year.

However, in the January-October period, a large number of 85600 enterprises temporarily suspended their operation, halted operation to wait for dissolution, or completed dissolution procedures, an increase of 15.1% over the same period last year.