48,700 enterprises dissolved and shut down operations in jan-sep

In the first nine months of this year, 48,700 enterprises have been dissolved or shut down operations, rising 21.8% from the same period last year, Bui Quang Vinh, minister of planning and investment said on October 1.

Of which, 5,803 companies have been dissolved, 11,421 firms have suspended operations and 31,477 enterprises have stopped tax payments but not yet registered for dissolution.

According to Minister Bui Quang Vinh, the biggest difficulty of businesses this year has been still too high interest rates.

Thus, in comparison with the figure announced by the Ministry of Planning and Investment at the regular cabinet meeting on September 26 with 4,700 enterprises being dissolved, the figure announced by minister Vinh was higher.

The government also said that in the first nine months of this year, 57,800 enterprises have registered for business with a total registered capital of over 363.7 trillion dong, down 7.8% in volume and 4% in value from the same period last year.

As estimated, in 2011, the country will have about 80,500 newly-established firms, bringing the total accumulated figures till December 31, 2011 to 624,000 companies, including 550,000 existing firms.

Source Vietbiz24

Tags: Vietnam companies, Vietnam enterprises, Vietnam SOEs

Posted by VBN on Oct 4 2011. Filed under Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry