More than 12,000 new enterprises were established in May with total registered capital of VND103.7 trillion ($4.37 billion), figures from the General Statistics Office (GSO) show.

The figures represent declines of 24.2 per cent and 32.9 per cent, respectively, compared to April.

The GSO said the fall in number shows that people and businesses are still worried that the difficulties and risks facing the country will linger into the future.

The number of newly-established enterprises in the first five months totaled 61,900, with registered capital of nearly VND568.7 trillion ($23.9 billion), down 1.6 per cent and 25.3 per cent, respectively, year-on-year.

Over 55,200 enterprises registered for a temporary suspension of operations in the opening five months, up 20.3 per cent year-on-year.

Some 25,500 enterprises ceased operations while waiting to complete dissolution procedures, up 34.1 per cent year-on-year, while 7,300 businesses were dissolved, an increase of 6.5 per cent year-on-year.