In March, the country had 14,200 newly established businesses with a registered capital of VND 145.7 trillion and 92,600 registered employees, an increase of 60.9%, 122.2%, and 81.4%, respectively, compared to February 2023, and a decrease of 0.6%, 24.8%, and 1.2%, respectively, compared to the same period last year. The average registered capital per new business was VND 10.2 billion, up 38.1% from the previous month but down 24.3% from the same period last year.

Additionally, nearly 6,300 businesses resumed operations, a 60.1% increase from the previous month and a 46.2% increase from the same period in 2022.

Therefore, in Q1/2023, the country had nearly 34,000 new businesses registered with a total registered capital of VND 310.3 trillion and 212.3 thousand registered employees, a decrease of 2%, 34.1%, and 12.8%, respectively, compared to the same period last year. The average registered capital per new business in the first three months of 2023 was VND 9.2 billion, a decrease of 32.8% compared to the same period in 2022.

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If the additional registered capital of VND 446.4 trillion for 10.6 thousand businesses that increased capital is included, the total supplementary registered capital in the first three months of 2023 is VND 756.7 trillion, a decrease of 35.8% compared to the same period in 2022.

By economic sector, Q1/2023 had 330 newly established businesses in agriculture, forestry, and fisheries, a decrease of 36.4% compared to the same period last year; 8.1 thousand businesses in industrial and construction sectors, a decrease of 9.6%; and 25.4 thousand businesses in the service sector, an increase of 1.5%.

In March, 4,147 businesses registered to temporarily suspend their operations, an increase of 9.1% from the previous month and 39.3% from the same period last year; 3,452 businesses ceased operations to complete dissolution procedures, an increase of 31% and 39.5%; and 1,412 businesses completed dissolution procedures, an increase of 21% and 31.1%.

Overall, the number of businesses temporarily suspending their operations in Q1/2023 increased.