Over 8,100 retail and wholesale firms await dissolution
duonghanhnguyen 10-08-2020, 17:17
Over 8,100 retail and wholesale firms await dissolution

Of the 21,800 firms nationwide, more than 2,500 processing and manufacturing enterprises, along with 2,356 businesses operating in the construction sector, have suspended their operations or are in the process of waiting for dissolution.

Throughout the reviewed period, the southeastern region topped the countrywide list in terms of the number of enterprises waiting for dissolution, newly-established firms and businesses registering to temporarily stop operating.

The number of firms registering to suspend business activities for a short period of time rose to 32,722, representing an increase of 41.5% in comparison to the same period last year. This marks the highest rate throughout the 2015 to 2020 period, with the main factor being the negative impact caused by the COVID-19 epidemic.

Elsewhere, 75,000 newly established enterprises emerged during the seven-month period, posting a significant decline in the number of businesses participating in the market over the past five years.

Furthermore, the number of businesses reopening also skyrocketed by nearly 18%, with over 28,500 businesses relaunching.

The two sectors which witnessed the largest increase in terms of the number of newly-registered enterprises during the reviewed period are electricity, gas and water production, distribution, and agro-forestry-fisheries.

According to the National Business Registration, this increase can largely be attributed to the fact that these sectors are almost entirely made up of essential businesses that enjoy low risk for capital investment.