Enterprise registration status in Vietnam in June 2023

Business registration in June 2023 shows positive signs in Vietnam, although it is still facing many difficulties and challenges due to the impact of the pandemic and the global economic situation. Thanks to the government’s timely policies and solutions, the business community has shown more confidence in registering new businesses and expanding operations. Political stability and investment environment have also attracted interest from domestic and foreign investors.

Enterprise registration status in Vietnam in June 2023

In June 2023, although the number of enterprises withdrawing from the market tended to increase compared to June 2022 (up 3.1%), overall, the number of enterprises entering was still nearly twice the number of enterprises withdrawing. This creates a balance in the investment climate.

Based on the data on the business situation of the Business Registration Administration, it can be seen that:

Status of enterprises entering and re-entering the Vietnamese market

In June 2023, a total of 13,904 businesses registered for new establishment. This number is up 4.8% year-on-year in 2022, indicating a positive growth in new business establishment.

The total registered capital of these new enterprises reached VND 138,746 billion, up 14.6% over the same period in 2022. The increase in registered capital shows confidence and investment in the business market at this time when supportive policies such as tax have attracted not only domestic investors but also foreign investors.

The number of registered employees of new enterprises in June 2023 was 103,887 people, a significant increase of 34.7% over the same period in 2022. This shows that the establishment of new businesses is creating many job opportunities for employees.

In addition, in June 2023, there were 7,098 businesses returning to operation, this is the highest number in the first 6 months and up to 215% over the same period in 2022. This shows the recovery and adaptability of some businesses after difficulties encountered in the previous period .

Statistics of enterprises withdrawing from the market

In June 2023, a total of 12,333 enterprises withdrew from the market. This number increased by 3.1% over the same period in 2022, showing that some businesses are facing difficulties and are unable to maintain business operations.

However, the number of enterprises registered to suspend their business decreased slightly and the number of dissolved enterprises decreased significantly compared to June 2022. Specifically:

• 5,102 enterprises registered to suspend their business, down 0.5% over the same period in 2022.
• The number of enterprises waiting for dissolution procedures was 5,749, up 11.7% over the same period in 2022.
• 1,482 enterprises have completed dissolution procedures and are no longer active in the market, down 12.2% over the same period in 2022.

In summary, based on the data in June 2023, the corporate market is showing positive signs of recovery, with the entry and re-entry of the market taking place strongly, along with the registered capital and the number of employees increasing. However, there are still some businesses withdrawing from the market, requiring attention and support to solve the difficulties they are facing.

The above is enterprise registration status in Vietnam in June 2023 based on the data of the Business Registration Management Department compiled and statistics by Viet An Law.

If you need to register for investment, register a business, change investment registration, change business registration or have a need for legal advice on business, investment and related fields, please contact Viet An Law for the fastest and most effective advice and support.