The number of newly registered enterprises in 2023 increases by 7.2% compared to 2022

DNHN - With 159,294 newly registered firms as of right now, 2023 has seen the most number of new registrations ever, up 7.2% over the same time in 2022.

Data from the Business Registration Management Department (Ministry of Planning and Investment) shows that in December 2023, 13,250 new enterprises were registered with a total registered capital of VND 155,051 billion, representing a 23% increase in the number of enterprises and a 44.7% increase in capital compared to the same period in 2022. During this month, 6,393 enterprises resumed operations, an increase of 4.7% compared to the same period in 2022.

2023 saw a total of 217,706 businesses enter and reenter the market, a 4.5% increase over 2022. This year is the second year in a row that the number of businesses has surpassed 200,000, with 208,368 in 2022.

As of now, 2023 has witnessed the highest number of newly registered enterprises ever, reaching 159,294, a 7.2% increase compared to the same period in 2022. The number of enterprises resuming operations also contributed to this impressive figure, with 58,412 enterprises.

But 2023 also saw a significant number of businesses leave the market, particularly in December 2023 when 14,355 businesses left, up 26.1% over the same month in 2022. 172,500 businesses withdrew from the market overall during the year, a 20.5% spike from the year before and the biggest amount since 2017.

Given the numerous policies and initiatives the government and prime minister have put in place to assist companies and promote commercial activity, the business environment in Vietnam in 2023 is seen as a bright area.

PV