GSO data showed the country had around 8,990 startups with combined capital pledges of VND90.3 trillion, up 8.1% in number and 52.3% in capital over the same period last year. These fresh businesses were planning to employ 104,100 staff.

The average registered capital of a startup was VND10 billion, a 40.9% pickup from a year earlier. Operational firms registered an additional VND114.6 trillion to fund their expansion plans, bringing the total newly registered capital last month to some VND204.9 trillion.

Meanwhile, nearly 13,290 enterprises suspended operations, a 6.7% year-on-year rise. In particular, 6,822 enterprises temporarily closed, up 31.7%, and 6,467 others either halted operations without prior registration or waited for dissolution, down 11.1%.

The number of inactive firms in January was higher than that of startups. However, the majority of sectors reported a drop in business closures, notably agro-forestry-fishery with 54.3%, accommodation and food services with 38.4%, mining with 37.5%, transport and warehousing services with 30.8% and construction with 28.3%.

The sectors which saw robust growth in startups include art, entertainment and recreation (up 2.4% in number and 658% in capital), healthcare and social services (57.6% and 455.5%), mining (3.4% and 401.2%), real estate (75.3% and 215%), and finance, banking and insurance (4.8% and 68.1%).

Besides, 5,564 suspended enterprises resumed operations last month, a year-on-year increase of 14.2%, bringing the total number of businesses that were newly established and resumed business to around 14,600.

Source:  thesaigontimes.vn