HCM City sees rising registered capital of new firms - HCM City sees rising registered capital of new firms - Website Ho Chi Minh City
HCM City (VNA) - More than 29,900 enterprises were established with total registered capital of nearly 396.5 trillion VND (17.44 billion USD) in HCM City in the first nine months of the year, according to the city’s People’s Committee.
This was an increase of 13 percent in the number of newly established businesses and 84.5 percent in registered capital, with most of the new businesses located mainly in Districts 1, Tan Binh, Go Vap, Binh Thanh and Binh Tan.
In addition, more than 44,000 operating companies have pledged an additional registered capital of 218.3 billion VND, up 11.2 percent and 49.6 percent, respectively, compared to the same period last year.
Overall, the total registered capital of new and operating companies in HCM City in the first nine months was 614.8 billion VND, a year-on-year increase of 70.4 percent.
Real-estate service and trading companies had the largest registered capital with more than 156.6 trillion VND, accounting for 39.5 percent of the city’s total, representing an increase of nearly 75 percent year-on-year.
Auto and motorbike repair and sales companies made up 16.2 percent with over 64.3 trillion VND, up 66.6 percent, and construction had over 52.8 trillion VND, a twofold increase over the same period last year.
Notably, the science and technology, design consultancy and marketing sectors saw over 29.5 trillion VND registered capital in the period, a two-fold year-on year increase.
The city, which targets having 500,000 operating enterprises by 2020, is assisting and encouraging business households to become official enterprises.
Nearly 1,400 business households are now official enterprises.