A total of 36,626 companies in Vietnam were closed in the first six months, or around 203 shutdowns a day, according to new data released by the Ministry of Planning and Investment.
Among them, 5,507 have completed procedures for dissolution, up 17 percent from the same period last year. The rest were temporarily shut down, a rise of 15 percent.
Most of the companies were small with a registered capital less than VND10 billion (US$441,950).
On the other hand, 54,501 new businesses were launched in the first half of the year, an increase of 20 percent. Their combined registered capital was more than VND427.76 trillion (US$18.9 billion).
Real estate recorded the highest growth with 1,354 companies launched, up 110.9 percent year-on-year. It was followed by health care and education sectors with the respective rises of 80 and 40 percent.