More than 3,000 enterprises were established in Hanoi during May, a year-on-year increase of 10 per cent, according to the Department of Planning and Investment.

Their total registered capital stood at VND36.6 trillion ($1.5 billion), up 44 per cent compared to the same period last year.

In the first five months of 2023, the total number of newly-established businesses was over 13,000 with total registered capital of VND125.9 trillion ($5.3 billion), up 8 per cent in number but down 17 per cent in value against the same period last year.

Hanoi attracted over $1.86 billion in FDI during the period. There were 146 new FDI projects licensed, with total registered investment of $48 million.