Vietnam's Vietnam Express Network reported on October 27 that according to the Data of the Business Registration Administration of the Ministry of Planning and Investment of Vietnam, the number of enterprises withdrawing from the market in Ho Chi Minh City in the first 10 months of this year accounted for 27% of the country.
Since the beginning of the year, more than 97,000 enterprises have withdrawn from the market due to the impact of the epidemic, of which about 48,500 have temporarily suspended their businesses, and the rest are undergoing deregistration procedures or have been cancelled.
In Ho Chi Minh City alone, 25,895,000 enterprises have withdrawn from the market, accounting for 27% of the enterprises that have withdrawn from the market in the country. Among them, there are about 14,000 enterprises that have been closed for a limited period of time, an increase of 11% year-on-year.
The recent suspension of business enterprises are mainly concentrated in wholesale, retail, automobile and motorcycle maintenance, construction, processing and other fields. 91% of the closed enterprises have funds below VND 10 billion, while enterprises with funds of more than VND 100 billion account for less than 0.5%.
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