Nearly 73,000 new enterprises set up in seven months

Vietnam’s Index of Industrial Production (IIP) posted a 6.5 per cent year-on-year increase in the first seven months of the year, according to the General Statistics Office (GSO). But GSO experts said it was lower than the 7.2 per cent rate in the first seven months of 2016. They also warned that the growth of the national IIP in the first seven months was not sustainable because the index of inventory rose by 10.4 per cent year-on-year, higher than the inventory index of 10.2 per cent in the first seven months of 2016. According to the GSO figures, the IIP of the manufacturing and processing sector rose by 10.6 per cent over the same period last year. However, the mining sector, one of key industrial production sectors,  saw a 7.5 per cent IIP drop during the first seven months. Several production sectors surged on the IIP, including metal production (35.4 per cent), electronics, computer and optical products (15.2 per cent), and paper production (10.4 per cent). Output of some industrial products reached high growth during this period, such as televisions, up by 36.6 per cent to 5.98 million units; rolled steel products, up 25.2 per cent to 3.6 million tonnes; urea fertilizer products, up 15.2 per cent to 1.42 million tonnes; and electricity, up 8.2 per cent to 108 billion KWh. Many other products experienced lower growth or reduction in output, including motorbikes, coal, mobile phones, auto, crude oil and gas. The office said the consumption index of the processing…... [read more]

But GSO experts said it was lower than the 7.2 per cent rate in the first seven months of 2016. They also warned that the growth of the national IIP in the first seven months was not sustainable because the index of inventory rose by 10.4 per cent year-on-year, higher than the inventory index of 10.2 per cent in the first seven months of 2016. According to the GSO figures, the IIP of the manufacturing and processing sector rose by 10.6 per cent over the same period last year. However, the mining sector, one of key industrial production sectors, saw a 7.5 per cent IIP drop during the first seven months. Several production sectors surged on the IIP, including metal production (35.4 per cent), electronics, computer and optical products (15.2 per cent), and paper production (10.4 per cent). Output of some industrial products reached high growth during this period, such as televisions, up by 36.6 per cent to 5.98 million units; rolled steel products, up 25.2 per cent to 3.6 million tonnes; urea fertilizer products, up 15.2 per cent to 1.42 million tonnes; and electricity, up 8.2 per cent to 108 billion KWh. Many other products experienced lower growth or reduction in output, including motorbikes, coal, mobile phones, auto, crude oil and gas. The office said the consumption index of the processing and manufacturing sector achieved a year-on-year increase of 8.4 per cent in the seven months, contributing to…... [read more]

Workers operate a production line of Alkyd resins at Hai Phong Paint Joint Stock Company based in the northern province of Hai Phong. Viet Nam’s Index of Industrial Production (IIP) posted a 6.5 per cent year-on-year increase in the first seven months of the year, according to the General Statistics Office (GSO). — VNA/VNS Photo Lam Khanh Viet Nam’s Index of Industrial Production (IIP) posted a 6.5 per cent year-on-year increase in the first seven months of the year, according to the General Statistics Office (GSO). But GSO experts said it was lower than the 7.2 per cent rate in the first seven months of 2016. They also warned that the growth of the national IIP in the first seven months was not sustainable because the index of inventory rose by 10.4 per cent year-on-year, higher than the inventory index of 10.2 per cent in the first seven months of 2016. According to the GSO figures, the IIP of the manufacturing and processing sector rose by 10.6 per cent over the same period last year. However, the mining sector, one of key industrial production sectors, saw a 7.5 per cent IIP drop during the first seven months. Several production sectors surged on the IIP, including metal production (35.4 per cent), electronics, computer and optical products (15.2 per cent), and paper production (10.4 per cent). Output of some industrial products reached high growth during this period, such as televisions, up by 36.6 per cent…... [read more]

Customers study a new property project in HCM City (Photo: tphcm.chinhphu.vn) HCM City (VNS/VNA) - An additional 22,972 new enterprises were established in HCM City in the first seven months of the year with a combined registered capital of 297 trillion VND (13 billion USD). Although the number of newly established enterprises only increased 12.2 percent over the same period last year, the registered capital increased 69.1 percent, according to the HCM City’s Department of Planning and Investment. In addition, 33,521 businesses registered to change the nature of their business in the period with a total additional capital of 160.4 trillion VND (7 billion USD), a rise of 10.6 percent in the number of businesses and a surge of 40.5 percent in additional capital compared to the same period last year. In total, newly registered and supplemented capital of the enterprises in the city in the past seven months reached 458 trillion VND (20 billion USD), up 57.8 percent over the same period last year. Of the number of newly established enterprises, one-member limited companies have the highest proportion (58.4 percent) with 13,406 enterprises, followed by two-member limited companies (28.4 percent) with 6,527 enterprises, joint-stock companies (11.8 percent) with 2,710 enterprises, private enterprises (1.4 percent) with 326 enterprises and three joint-venture companies (0.01percent). By sector, real estate has the most newly established businesses (39 percent) with total registered capital of 116 trillion VND (5.1 billion USD). In addition, the retail, automobile repair and motorbike…... [read more]

Customers study a new property project in HCM City. Real estate is the industry with the most newly established businesses in HCM City in the first seven months. — Photo tphcm.chinhphu.vn An additional 22,972 new enterprises were established in HCM City in the first seven months of the year with a combined registered capital of VND297 trillion (US$13 billion). Although the number of newly established enterprises only increased 12.2 per cent over the same period last year, the registered capital increased 69.1 per cent, according to the HCM City’s Department of Planning and Investment. In addition, 33,521 businesses registered to change the nature of their business in the period with a total additional capital of VND160.4 trillion ($7 billion), a rise of 10.6 per cent in the number of businesses and a surge of 40.5 per cent in additional capital compared to the same period last year. In total, newly registered and supplemented capital of the enterprises in the city in the past seven months reached VND458 trillion ($20 billion), up 57.8 per cent over the same period last year. Of the number of newly established enterprises, one-member limited companies have the highest proportion (58.4 per cent) with 13,406 enterprises, followed by two-member limited companies (28.4 per cent) with 6,527 enterprises, joint-stock companies (11.8 per cent) with 2,710 enterprises, private enterprises (1.4 per cent) with 326 enterprises and three joint-venture companies (0.01per cent). By sector, real estate has the most newly…... [read more]

Although the number of newly established enterprises only increased 12.2 percent over the same period last year, the registered capital increased 69.1 percent, according to the Ho Chi Minh City’s Department of Planning and Investment. In addition, 33,521 businesses registered to change the nature of their business in the period with a total additional capital of VND 160.4 trillion (USD 7 billion), a rise of 10.6 percent in the number of businesses and a surge of 40.5 percent in additional capital compared to the same period last year. Customers study a new property project in Ho Chi Minh City. Photo tphcm.chinhphu.vn In total, newly registered and supplemented capital of the enterprises in the city in the past seven months reached VND 458 trillion (USD 20 billion), up 57.8 percent over the same period last year. Of the number of newly established enterprises, one-member limited companies have the highest proportion (58.4 percent) with 13,406 enterprises, followed by two-member limited companies (28.4 percent) with 6,527 enterprises, joint-stock companies (11.8 percent) with 2,710 enterprises, private enterprises (1.4 percent) with 326 enterprises and three joint-venture companies (0.01 percent). By sector, real estate has the most newly established businesses (39 percent) with total registered capital of VND 116 trillion (USD 5.1 billion). In addition, the retail, automobile repair and motorbike industries also accounted for a high proportion (17.7 percent) with total registered capital of VND 52 trillion (USD 2.3 billion). According to the Department of Planning and Investment, Ho Chi Minh City is continuing…... [read more]

NDO –Vietnam has seen 72,953 newly-established enterprises in the first seven months of this year with a total registered capital of VND690.74 trillion (US$30.39 billion), an annual increase of 13.8% in terms of the number of enterprises and 39% in terms of registered capital. According to the Department for Business Registration Management, during the January-July period, 21,383 enterprises have registered to expand their investment capital with a total supplemented capital of VND979.73 trillion (US$43.11 billion). The average registered capital per enterprise is reported at VND9.5 billion (US$418,000), up 22.2% over the same period last year. The Department for Business Registration Management said that the number of newly-established enterprises has increased in almost every sector compared to the corresponding period last year, including 2,706 new enterprises in the real estate sector, up 68%; 812 new enterprises in the financial, banking and insurance sector, up 31%; and 385 new enterprises in the health sector, up 31%. Only the shipping and warehouse sector witnessed a 6% decrease in the number of newly-established enterprises. Furthermore, 17,549 enterprises have resumed operations in the first seven months of the year, an annual increase of 5%. However, 15,866 enterprises registered for the temporary suspension of business activities, up 16% over the same period last year, while 27,408 others ceased operations or are waiting to be dissolved, up 21% over the same period last year. A few sectors reported a higher number of workers compared to the same period last year including…... [read more]

NDO – Ho Chi Minh City posted a total budget revenue of approximately VND188 trillion (US$8.3 billion) in January-July this year, including domestic revenue of VND130 trillion (US$5.72 billion), up 16% compared to the same period last year. Le Duy Minh, deputy director of the Ho Chi Minh City Tax Department said that the recovery in production and business activities since the beginning of this year has helped to hike up the budget revenue. At a meeting on the city’s financial and commercial performance, held on July 27, Minh said that the boost in budget revenue was also as a result of the local administration’s programs in support of production and start-ups. The city has also seen around 22,000 newly-established enterprises and over 700 household businesses that have been converted into companies. The city’s Tax Department believe that the budget revenue target of VND347 trillion (US$15.27 billion) for the year is feasible, Minh added. Speaking at the meeting, Vice Chairman of the municipal People’s Committee Tran Vinh Tuyen said that the city will strive to promote administrative reform in addition to facilitating enterprises in raising the GRDP from 8% to at least 9.2% this year. He noted that the city will improve its online public services while strengthening tax collection, particularly tax collection from online trading, in order to prevent any tax losses. Tuyen also showed his concern over the sluggish disbursement of public investment in infrastructure projects, while asking the relevant agencies to…... [read more]

The twelfth round of free trade agreement (FTA) negotiations between the EU and Vietnam was held in Hanoi in March 2015. The main topics of the negotiations were tariff and non-tariff barriers, rules of origin, investment, government procurement, intellectual property rights (IPR), and related regulatory issues. If Vietnam succeeds in implementing the FTA with the EU, it would be-together with Singapore-the most successful ASEAN country in concluding bilateral FTA agreements. Currently, as the EU is Vietnam’s second largest trading partner (after China), and is also among the largest investors in Vietnam, the signing of the FTA will initiate huge changes in the country’s investment environment, bringing with it several challenges for Vietnamese firms. In 2013, the European Trade Policy and Investment Support Project (EU-Mutrap) sought to identify the opportunities and challenges facing Vietnamese enterprises arising from the EU-Vietnam FTA. The most prominent benefits to be expected are an increase in the trade of goods promoted by the reduction or elimination of tariffs and non-tariff barriers, whereby key economic sectors as textiles, footwear, and the high-technology industries in Vietnam would benefit most. The possibility of cheaper European inputs may also benefit Vietnamese production and the development of distribution chains and local brands. However, Vietnamese companies should also be aware of the challenges related to the FTA. These are related to higher requirements from the EU market in terms of transparency and competition, both for private and state-owned enterprises (SOEs). The FTA is not necessarily seeking across-the-board privatisation, but rather the opening…... [read more]

The number of newly established enterprises in the first five months inched up by 1 percent against the same period last year, however, the total registered capital was down by 5 percent, the ministry said, attributing it to economic difficulties and rising input costs. In May alone, more than 5,500 enterprises were established, with a total registered capital of VND40.2 trillion ($1.91 trillion). The ministry estimates that the number of newly-established enterprises would reach 39,000 in the first half of the year, a 4 percent increase against the same period last year. However, the total registered capital of the new firms would be only roughly VND232 trillion ($11 billion), down 5.4 percent. VNS... [read more]




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