Vietnam sees modest decline in new business registrations in 11 months

Nearly 11.200 new enterprises were established nationwide in November, data released by the General Statistics Office on December 6 indicates.

This represents a 21.3% decrease compared to October and a 22.6% decrease compared to the same period last year.

With the decline in November 2024, the total number of new enterprises established in the first 11 months of the year reached 147,200, a slight decrease of 0.5% compared to the same period last year (instead of a 1.9% increase as reported in the previous month).

The newly registered capital of businesses in November also decreased by 9.8% from the previous month and by 27.2% year-over-year. The average registered capital for a newly established enterprise in November was VND12.4 billion ($488.3 million), which is a 14.7% increase from the previous month but a 5.8% decrease compared to the same period last year.

Additionally, the GSO reported that over 7,700 enterprises resumed operations in November, a 10.9% decrease from the previous month but a 17.4% increase compared to the same period in 2023.

Cumulatively in the 11-month period, nearly 71,300 enterprises resumed operations, marking a 28.5% increase compared to the same period in 2023, bringing the total number of new and resumed enterprises in the first 11 months of 2024 to over 218,500, a 7.4% increase compared to the same period in 2023.