It is necessary to remove difficulties so that businesses are not afraid to establish

DNHN - According to data released by the General Statistics Office (Ministry of Planning and Investment) in May, the number of newly established enterprises, the number of registered capital, and the number of registered employees have all declined

In May of 2023, the entire nation had more than 12,000 newly established businesses with a total registered capital of 103,7 trillion VND and 74,600 registered employees.

In comparison to April 2023, this represents a decrease of 24.2% in the number of enterprises, a decrease of 32.9% in registered capital, and a decrease of 37.4% in the number of employees.

While the number of new businesses is low, the number of businesses registering to cease operations tends to rise. In the first five months of 2023, 55,200 businesses temporarily ceased operations (an increase of 20.3% over the same period in 2022); 25,500 businesses ceased operations and awaited dissolution procedures (an increase of 34.1%); and 7,300 businesses completed dissolution procedures (an increase of 6.0%). Every month, an average of 17,600 businesses withdraw from the market.

To address the situation described above, the government issued Resolution No. 58/NQ-CP on April 21, 2023, outlining several key policies and solutions to assist businesses in adapting proactively, recovering quickly, and developing sustainably. sustainable until 2025. It is estimated that the resolution will contribute to removing bottlenecks and mobilizing and freeing social resources for development investment.

In addition, the continued reduction of the State Bank's operating interest rate is a positive step to support businesses and stimulate credit demand, thereby contributing to the future growth of the economy alongside other policies. fiscal record.

According to Deputy Minister of Finance Nguyen Duc Chi, expansionary fiscal policies are required to support the economy: tax deferrals, tax reductions, land rent reductions, and many business-friendly policies., people, and an increase in public investment, investment in infrastructure, highway system, and other infrastructure.

Dr. Vu Minh Khuong, Lecturer at the Lee Kuan Yew School of Public Policy (Singapore), acknowledged that the government has assisted businesses in overcoming obstacles. Corporate bonds are a vital channel for capital mobilization, and it is essential to invest in enhancing this ecosystem.

Associate Professor Dr. Bui Van Van - former Dean of the Faculty of Corporate Finance (Academy of Finance) - determined that the low number of established businesses is due to a lack of motivation to start new businesses. To increase the number of new businesses, the government must provide sufficient incentives to encourage the establishment and maintenance of business models.

Concerning the State Bank, the unit will continue to closely monitor domestic and international developments, forecast inflation and market interest rates to adjust interest rates by the capacity to balance capital, expand sound credit and risk management capacity, and maintain a capital reserve.

Nhan Ha Phan (General)