Over 25,700 enterprises established in Vietnam in first four months

Some 25,729 enterprises had been established in Vietnam in the first four months of 2014, up 8.1 percent year-on-year, said Vietnam's Ministry of Planning and Investment (MPI).

State-run radio VOV quoted Agency of Business Registration (ABR) under MPI as saying on Wednesday, a total of 143.4 trillion Vietnamese dong (6.79 billion U.S. dollars) was registered among the freshly established companies across Vietnam in the four-month period, up 16.2 percent year-on-year.

In April alone, some 7,373 companies had been set up in Vietnam, with total registered capital of 45.42 trillion Vietnamese dong (2. 15 billion U.S. dollars), down 1.5 percent in volume and up 29.5 percent in value over the previous month.

In the January-April period, financial, banking, insurance sector witnessed the strongest growth in number of newly established companies with a 276.4 percent increase year-on-year.

"This presents that the restructuring process of the banking system carried by the State Bank of Vietnam has been going in the right direction", assessed ABR.

During April, Vietnam saw 694 companies complete dissolution procedures, up 0.6 percent over March while 5,260 enterprises halted operation, up 20.7 percent over March, said the agency.

As a result, the total number of companies having to dissolve or stop operation during the four-month period hit 21,489, up 9.4 percent year-on-year.

Meanwhile, in the first four months, some other 5,863 companies came back to operation after pausing duration, said the ABR.