Vietnamese companies resume their activities up 30%

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HANOI, November 1 (Vietnam News / ANN): The number of newly established companies in Vietnam increased in both quantity and registered capital last month compared to the previous month.

The number of companies resuming operations increased 29.8% month-on-month.

Specifically, the country as a whole had 8,233 newly established companies last month, with registered capital of 108.6 trillion yen (US $ 4.75 billion) and 58,800 employees, an increase of 111.2 % in quantity, 73.9% of the share capital and 17.9%. in number of employees compared to September.

However, this figure fell further by 32.5% in quantity and 34.4% in share capital, down 18.8% in number of employees compared to the same period last year.

Across the country, 4,304 businesses have resumed operations, up 29.8% from September and down 14.7% from the same period last year.

In addition, 3,492 companies signed up to suspend operations for a specified period, up 55.9%.

There were 3,048 units that ceased to operate pending dissolution proceedings, up 21.5% and 806 organizations completed dissolution proceedings, up 33%.

Typically, the country as a whole has seen 93,700 newly registered companies with a total share capital of nearly 1.3 quadrillion VN and 707,700 employees in the first 10 months of this year, down from 15.7 percent of the number of businesses; 18.2 percent of the share capital and 16.8 percent of the number of employees in the same period last year.

The General Statistical Office said the average share capital of a newly created company reached 13.9 billion VN in 10 months, down 2.9% from the same period last year.

If we include more than 1.88 quadrillion NV of additional corporate share capital, the total amount of additional capital added to the economy in the first 10 months of this year is greater than 3.18 quadrillion NV, down 18.2% compared to the same period. Last year.

35,300 companies have resumed operations, down 6.3% year-on-year.

Thus, in total in the first 10 months of this year, the number of newly created and reactivated companies reached 129,000, down 13.3 percent from the same period last year. On average, there were 12,900 new and old businesses per month.

At the same time, the number of companies that suspended operations for a specified period was 48,500, up 16 percent from the same period last year.

Up to 35,000 units have closed and were awaiting dissolution proceedings, up 15.7%; 13,600 companies completed dissolution proceedings, up 0.8%.

To create momentum for businesses to overcome the crisis, the government has put in place solutions to support businesses and people affected by the Covid-19 pandemic.

The decree guides four groups of tax exemption and reduction solutions to help businesses and individuals overcome the difficulties caused by the impact of Covid-19.

These include reducing corporate income tax this year for businesses and organizations with revenues up to VN200 billion and lower revenues compared to 2019.

The tax will be exempt in the third and fourth quarters of the year for corporate households and individuals who have production and business activities in different places affected by Covid-19.

Along with this, the rate of value added tax for groups of goods and services in industries and late interest that occurred last year and this year for companies and organizations that suffered losses in the year last will also be reduced. – Vietnam News / ANN

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