Hanoi welcomes 9,400 new firms in four months

The capital city of Hanoi witnessed 9,400 enterprises enter the market with the total registered capital of 97.6 trillion VND (3.84 billion USD) during January-April, falling 6% in the number of firms and rising 9% in capital as compared to the same time last year, according to the municipal Statistics Office.

Hanoi welcomes 9,400 new firms in four months -0
Source: VNA

The city saw the resurgence of 4,500 companies that had previously ceased operation, a year-on-year increase of 10%.

Meanwhile, more than 14,200 enterprises dropped out of the market, and 1,400 others were dissolved during the period, growing 24% and 12%, respectively, against the same period in 2023, posing great challenges to the labour market.

Director of the department Dau Ngoc Hung said the employment rate at industrial enterprises decreased 2% year on year, adding the number of workers in foreign-invested and non-state sectors fell 2.5%.

The figures in the sectors of processing and manufacturing, and power and gas production and distribution slid 2.5% and 0.4%, and those in water supply and waste treatment and mining rose 1.3% and 45.6%.

However, thanks to the municipal People’s Committee's resolve and rational solutions, the index of industrial production in the four-month period increased 4.5% against the same time last year, with processing and manufacturing up 3.6%, power generation and distribution up 13.6% and water supply and waste treatment up 9%.

As various measures were rolled out to lure more foreign direct investment (FDI) projects, the city attracted more than 1.13 billion USD in FDI capital during January-April.

The local administration also held meetings and dialogues with businesses in an effort to remove bottlenecks and help workers stablise their jobs

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