12/10/2017 12:17 GMT+7 Email Print Like 0

HCM City welcomes more than 29,900 newly established firms

HCM City, October 12 (VNA) – An additional 29,921 new enterprises were established in Ho Chi Minh City this year by mid-September, with total capital exceeding 396 trillion VND (17.4 billion USD). 

Although the number of new firms rose only 13 percent, registered capital surged 84.5 percent year on year. 

Some 44,087 enterprises registered to change their fields of business in the period with total additional capital of more than 218 trillion VND (9.6 billion USD), up 11.2 percent in number of businesses and 49.6 percent in capital from last year. 

Of the new firms, one-member limited companies made up the highest proportion (58.6 percent) with 17,546 enterprises, followed by two-member limited companies (28 percent) with 8,387 enterprises, joint-stock companies (11.9 percent) with 3,581 enterprises, and private firms (1.4 percent) with 404 enterprises. 

In terms of sectors, real estate had the largest pool of newly established companies (39.5 percent) with total registered capital of nearly 156.7 trillion VND (6.9 billion USD). The retail, automobile repair and motorbike industries also occupied a high proportion (16.2 percent) with total capital of more than 64.3 trillion VND (2.8 billion USD). 

In order to have 500,000 enterprises by 2020, the city is working to transform household businesses into enterprises. To date, nearly 1,400 home businesses have switched into companies.