Vibrant Business Landscape: Vietnam Welcomes Over 15,400 New Market Entrants in January 2018
Vietnam's Robust Start to 2018: Surge in New Enterprises
Dive into Vietnam's bustling business landscape as over 15,400 new enterprises register in January 2018, marking a robust start to the year. The surge in registrations, reported by the Business Registration Agency in Vietnam, offers insights into the sectors driving growth, emerging trends, and challenges shaping Vietnam's dynamic economy.
Impressive Growth in New Startups
According to the agency's report, more than 10,800 startups entered the market with a total registered capital of nearly US $4.33 billion, representing a significant increase of 20.6% compared to the same period last year. An additional 3,500 companies injected US $9.6 billion of capital, bringing the total fresh capital registered to nearly US $14 billion in the first month of the year.
Key Sectors Driving Growth
Figure 1&2 highlight the emergence of over 3,800 new enterprises in the Automotive & Bike sector, comprising 35.1% of the country's total new registrations. The Construction sector followed with 1,378 new enterprises (12.7%), and the Processing & Manufacturing sector with 1,320 (12.2%) new entrants. Additionally, the Science, Technology, Design, Marketing, and Consulting services sector accounted for 799 (7.4%) new enterprises.
Sectoral Contributions to Registered Capital
Despite the highest number of newly established enterprises in the Automotive & Bike sector, the Finance, Banking & Insurance sector experienced the strongest growth at 52.9% in registered capital. The Construction sector contributed significantly to registered capital, surpassing US $1 billion (21%), followed by Real Estate with US $0.78 billion (17.9%), and Automotive & Bike with US $0.76 billion (17.5%).
Regional Dynamics and Business Operations
While the number of newly established enterprises surged, the number of enterprises resuming operations declined by 17.6% compared to the same period last year. The Central Highlands region witnessed a marginal increase in resumed operations. However, temporary business suspensions increased by 26.4% year-on-year, surpassing 8,600 enterprises.
A Vibrant Business Landscape
In conclusion, Vietnam's vibrant business landscape in January 2018 reflects robust economic growth and entrepreneurial activity. The surge in new market entrants across key sectors underscores the country's attractiveness for business ventures and investment opportunities.
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