More than 30,300 enterprises suffer dissolution and shut down till July 20

As reported at the regular cabinet meeting in July, since early this year till July 20, 2012, Vietnam had nearly 40,000 newly established enterprises with a total registered capital of over 247.2 trillion dong, down 12.7 percent in volume and 11.6 percent in value over the same period last year.

Thus, so far, the country had more than 663,800 companies being established, of which, more than 468,600 firms are operating, accounting for 70%.

At the same time, more than 30,300 firms suffered difficulties, dissolution and closure in the first seven months of this year, rising 6.4 percent from the same period last year.

Commenting on rising volume of enterprises suffering dissolution, Head of government Office, Vu Duc Dam, said that due to deeper integration, so all enterprises and economies have to restructure. However, Dam also said that the ratio of dissolution of enterprises in comparison with the total number of active companies still remained positive over the world.

Implementing the government’s Resolution No 13, value added tax (VAT) extension in April, May and June have been imposed for about 208,250 enterprises with a total amount of approximately 10 trillion dong, corporate income tax (CIT) extension was applied for about 8,260 firms with a total amount of CIT extension of 347.5 billion dong and land tax reduction of 50 percent was implemented for over 3,000 firms with a total amount of 339 billion dong.

Also in the first seven months of this year, about 825,000 labourers have got jobs, rising 1.7 percent over the same period last year.

So far, the country has about 1,300 enterprises with 100 percent stake held by the state, of which, 53.6 percent is managed by localities, 27.1 percent is managed by ministries and industries and 19.3 percent is managed by state-owned groups and corporations. Public benefit enterprises account for 34.5 percent and business firms account for 65.5 percent of the total 100 percent state-owned enterprises (SOEs).

 

Category: Business