More than 19,700 businesses were established in the first two months of 2023, with total registered capital of VND164.7 trillion ($6.97 billion), the General Statistics Office (GSO) reports.

The figure represents a year-on-year decline of 3 per cent in number and 40.7 per cent in capital.

A total of 119,600 jobs were created.

More than 8,800 new enterprises were established in February, up 21.4 per cent year-on-year.

Over 3,900 businesses resumed operations in the first two months, while 38,800 registered for temporary suspension of operations, up 18.5 per cent, and 9,400 businesses ceased operations as they wait to complete dissolution procedures, up 5.8 per cent.