Tag: operation

The Chinese platform failing to meet Vietnam's business registration requirements.

According to the General Statistics Office, there were more than 13,000 newly-established enterprises in July, down 0.7 per cent compared to June but up 50.7 per cent year-on-year. At the same time, 2,300 businesses returned to operations, up 3.2 per cent over June.

Data for the second quarter and first half of 2022 from the General Statistics Office shows that the number of newly-registered enterprises and those returning to operations neared 117,000 in the first half of the year, a 25.4 per cent increase compared to the same period of 2021. This is the first time the number of newly-established enterprises in the first half of a year has exceeded 100,000.

Forty per cent of enterprises in Vietnam have temporarily suspended operations due to the pandemic and only have cash flows to maintain operations for less than a month. The possibility they may have to dissolve is quite high for those that have suspended operations for more than a month without outside support.