Resolution 68 sets out the goals of having at least 20 large firms participate in global value chains by 2030 and increase the total number of active businesses to 2 million. Photo: VNA  

Vietnam recorded 145,000 newly registered enterprises in the first nine months of this year, an increase of 18.9% year on year, according to the National Statistics Office (NSO).

Not only did the number of new enterprises rise, but their registered capital also grew significantly. Total registered capital reached 1.42 quadrillion VND (53.85 billion USD), up 22.6%, with the average capital per enterprise rising to 9.8 billion VND, up 3.1%.

NSO Director Nguyen Thi Huong said this surge reflects the strong “momentum” generated by the Politburo’s Resolution No. 68-NQ/TW on developing the private economic sector. The number of new market entrants has now exceeded the number of withdrawals, she noted.

A particularly positive signal came from the sharp increase in total additional capital injected into the economy in the first nine months, reaching 4.72 quadrillion VND, up 104.3% year on year. Of this, 3.3 quadrillion VND came from existing enterprises expanding operations, up 186.5%.

Recovery among previously struggling firms also contributed to the optimistic outlook. More than 86,300 enterprises resumed operations, up 41.3% year on year, bringing the total number of newly established and returning enterprises to over 231,300, an average of 25,700 per month, adding fresh vitality to the economy.

Growth was seen across all sectors. Services led with 111,300 new enterprises (up 20.4%), followed by industry and construction (32,400, up 14.5%). Even agriculture, forestry and fisheries saw 1,300 new firms, up 10.6%, reflecting widespread entrepreneurial energy.

This clearly demonstrates businesses’ growing confidence in the economic outlook and their readiness to expand operations and invest in new projects, said Phi Thi Huong Nga, head of NSO's Industrial and Construction Statistics Division.

However, the business landscape is also undergoing active restructuring. In the same period, 99,500 enterprises temporarily suspended operations (up 14.5%), 53,200 ceased operations pending dissolution (down 13.5%), and 22,300 completed dissolution procedures (up 45%). On average, about 19,400 enterprises exited the market monthly—a high figure, though still outweighed by new and returning firms.

Sectors with high numbers of new enterprises such as wholesale and retail (61,910) and manufacturing (19,470) also recorded the largest numbers of closures, highlighting fierce competition.

Construction showed a less positive trend, with new registrations down 7.1% and dissolutions up 45.4%, reflecting challenges in real estate and material costs.

The third-quarter business sentiment survey of manufacturing enterprises by the NSO indicated strong recovery signs, with 77.8% of firms rated business conditions as stable or improving compared to the previous quarter, while only 22.2% faced difficulties.

To further support businesses, the Ministry of Finance has prioritised addressing institutional bottlenecks, improving access to land, resources and credit, reducing administrative burdens, and developing supportive tax and infrastructure policies.

Supporting efforts have focused on improving the investment climate and simplifying procedures to cut compliance costs, and helping firms bridge management, tax and accounting gaps to strengthen competitiveness.

Economists cautioned, however, that global economic uncertainty and rising competition remain key risks. Vietnamese enterprises must adopt flexible strategies, seize opportunities from supply chain shifts and domestic consumption, and maintain sustainable growth throughout 2025, they suggested./.