Up to 116,300 enterprises established in nine months

In the January-September period, 48,900 enterprises resumed their operations, a year-on-year decline of 3.2%, raising the total number of newly-established businesses and firms resuming operations to 165,200, up 1.2% year on year.

In September alone, there were 12,684 new enterprises with total registered capital of 117.2 trillion VND (4.8 billion USD) and 80,000 labourers, up 10.6% in the number of enterprises, down 13.9% in terms of registered capital and up 29.3% in the number of employees compared with the same period.

In the review period, the number of enterprises that temporarily suspended operations for a certain period of time was 75,800, up 21.2% from the same period last year.

Meanwhile, 46,100 businesses stopped their operations, waiting for dissolution procedures, up 26% year on year, and 13,200 enterprises completed dissolution procedures, down 4.3%.

Results of a survey on business trends of enterprises in the processing and manufacturing industry in the third quarter of 2023 showed that 30.1% of the respondents believed that their business performance was better than in the second quarter, while 37.5% said that the production and business situation was stable and 32.4% said they were facing difficulties.

GSO General Director Nguyen Thi Huong said the industrial production situation will be better in the fourth quarter than the third quarter of 2023 in terms of production volume and export orders, adding that they can’t obtain high growth momentum but are expected to prosper compared with the first nine months of the year.

She suggested some solutions to support the industrial sector in overcoming difficulties, stabilising and developing production, which include stabilising electricity, water, and fuel prices to limit increases in production costs.

Huong also underlined the need to stimulate demand in the domestic market to assist businesses in finding partners to sell their products. It is necessary to reduce loan interest rates and facilitate procedures relating to accessing loans for businesses that face financial difficulties, especially small and micro-size enterprises so that they have capital to promote production and business activities in a more timely and effective manner, she said./.