16,000 Vietnamese businesses shut down, suspend operations in 1st quarter

By Thanh Nien News, TN News

Email Print

16,000 Vietnamese businesses shut down, suspend operations in 1st quarter
As many as 16,745 businesses have closed down or suspended operations in the first quarter of this year, a 9.6 percent increase year-on-year, according to the Ministry of Planning and Investment.
The number of dissolved businesses was 2,581, an increase of 13.6 percent.
Of the rest, 3,846 have officially suspended operations, a 7.8 percent rise.
The remaining 10,318 businesses have suspended operations without informing authorities.
The bright spot in the report is that 4,622 business which had previously suspended operations have resumed operations in the first quarter of this year, up 48.9 percent from the fourth quarter of last year.
Between January and March, 18,358 new businesses registered with a total registered capital of more than VND97.9 trillion (US$4.6 billion).
The figures are up 16.9 percent and 23.4 percent, respectively, year-on-year.
According to the Ministry of Planning and Investment, the sectors showing the most positive signs for growth include services, finance, banking, insurance, electricity, water and gas production and distribution.
The sectors facing the most difficulties include labor agencies, tourism and construction.

Like us on Facebook and scroll down to share your comment

More Business News