29.03.2021, 18:08

Roughly 448 enterprises withdraw from market on daily basis

A broad array of stores have to close due to the impact of the COVID-19 pandemic

This figure includes 23,800 businesses which have temporarily suspended operations, up 28.2% over the same period from last year, 11,300 firms which have stopped working as they wait for dissolution procedures, down 7.3%, and 5,200 enterprises which are completing dissolution procedures, up 26.4%.

The majority of companies are young, small-scale, and vulnerable businesses due to facing a range of negative external influences.

According to the GSO, the first quarter of the year saw the country record 29,300 new enterprises with a total registered capital of VND447,800 billion. In addition, the total number of registered employees stood at 245,600, marking a 1.4% fall in the number of businesses, up 27.5% in registered capital and up 0.8% in the number of staff over the same period from last year.

Survey results released by the GSO regarding enterprises trends in the manufacturing industry during the first quarter of the year indicate that 29.6% of firms assessed that their business and production situation in the first quarter is better than that of the fourth quarter of last year. Indeed, 31.4% of businesses faced difficulties whilst 39% of enterprises said that their business and production situation remained stable.

It is therefore expected that moving into second quarter of the year, 51% of enterprises would be better, 14.9% of businesses are forecast to face more difficulties, whilst 34.1% of firms think that the business and production situation will remain stable.