Business registration updates for week 29 (July 15 – July 19, 2024)

Notable increases were observed in the number of newly established companies, registered capital, and registered labor, reflecting positive economic momentum.

• Number of New Companies: There was a 7.4% increase in newly registered companies, totaling 3,475.
• Registered Capital: The registered capital grew by 4.1%, reaching VND 24,230 billion.
• Labor: The number of employees registered by new companies surged by 18.1%, amounting to 19,357 workers.

While there was a slight rise in the number of dissolved companies and those temporarily suspending operations, it is noteworthy that the number of companies resuming operations increased by 13.2%. Additionally, the number of companies whose business registration certificates were revoked decreased by 16.9%, further highlighting the positive trend.

Analysis by company type, region, and sector

Company type

In Week 29 of 2024, a breakdown by company type compared to Week 28 reveals the following trends:

• Single-Member Limited Liability Companies (LLCs): These remain the most common, with 2,487 companies (71.6% of the total). This represents a 7.2% increase, though the number of companies decreased by 166.
• Multi-Member Limited Liability Companies: 554 companies were registered (15.9% of the total), reflecting an 8.2% increase with 42 additional companies.
• Joint Stock Companies: There were 400 new registrations (11.5% of the total), an 8.7% increase with 32 more companies.
• Private Enterprises: A slight decline of 2.9% was observed, with 33 companies registered (0.9% of the total).
• Partnerships: There was a minimal increase of one company, representing 0.03% of the total.

Regional distribution

In terms of regional distribution, all six regions recorded increases in newly registered companies compared to the previous week:

• Mekong Delta: 305 companies (8.8% of the total), marking a 22.5% increase with 56 additional companies.
• Northern Midlands and Mountainous Region: 194 companies (5.6% of the total), a 9.0% increase with 16 more companies.
• Southeast Region: 1,563 companies (45.0% of the total), up by 8.8% with 126 additional companies.
• Red River Delta: 1,005 companies (28.9% of the total), a 4.1% increase with 40 more companies.
• Central Highlands: 72 companies (2.1% of the total), a 1.4% increase with one additional company.
• North Central and Central Coastal Region: 336 companies (9.7% of the total), a slight 0.3% increase with one additional company.

Sectoral analysis

Regarding the sectoral composition of newly registered companies in Week 29 of 2024, there were decreases in eight sectors compared to Week 28:

• Electricity, Water, and Gas Production and Distribution: The largest decrease of 39.4%.
• Mining: Decreased by 35.3%.
• Agriculture, Forestry, and Fisheries: Declined by 22.2%.
• Finance, Banking, and Insurance: Decreased by 18.4%.
• Information and Communication: Declined by 14.9%.
• Employment Services; Tourism; Equipment Leasing, and Other Support Services: Fell by 7.1%.
• Transportation and Warehousing: Decreased by 3.9%.
• Education and Training: Fell by 3.6%.

However, the remaining nine out of the 17 sectors saw an increase in the number of newly registered companies compared to the previous week, indicating diverse growth across multiple industries.

Source: Ministry of Planning and Investment

Compiled by Vietnam Business Information