Affected By The Epidemic, Vietnam'S Companies Closed Down Nearly 40%

According to the statistics of the Ministry of Planning and Investment of Vietnam, 29200 companies were suspended in the first six months of this (2020) year, an increase of 38.2% over the same period of the previous year. Among them, about 19600 enterprises not only stopped business, but also were waiting for dissolution procedures, but this number decreased by about 10.2% compared with the same period in 2019.

The Ministry of Planning and Investment pointed out that affected by the COVID-19 epidemic that began at the beginning of this year, Vietnam has gradually restricted various social activities and strengthened control since April. At present, nearly two months after the "social isolation" measures were lifted, Vietnam's social and economic activities are gradually recovering.

According to statistics, in June 2020, the number of newly established enterprises in Vietnam was 13700, with a registered capital of 139.1 trillion Vietnamese dong (about US $6 million). The number of newly established entrepreneurs increased by 27.9% compared with May, and the total capital increased by 23.4% compared with the previous month.

In the first half of 2020, there are more than 62000 registered enterprises nationwide, with a total registered capital of 697.1 trillion Vietnamese dong (about 30 million US dollars), a 7.3% decrease in the number of enterprises and a 19% decrease in the registered capital.

In the first six months of 2020, the average registered capital of newly established companies in Vietnam is estimated to be 112 billion Vietnamese dong, a decrease of 12.5% over the same period last year.

On the other hand, about 25200 enterprises applied for resumption of business, an increase of 16.4% over the same period in 2019. In the first half of 2020, a total of 87200 new enterprises and enterprises resumed business, but still 1.5% less than the same period in 2019.