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Businesses are excited to enter the market
02/03/2024
In the general picture of the economy, the Government sets a GDP growth target of about 6-6.5% in 2024. Even in the first months of the year, positive signals for the economy, although just starting, have gradually appeared, many businesses are excited to enter the market.

The Department of Business Registration Management, Ministry of Planning and Investment said that the number of enterprises entering and re-entering the market in the first month of 2024 reached 27,335 enterprises, an increase of 5.5% over the same period in 2023, more than 1.3 times the average level of enterprises entering and re-entering the market in the period 2018-2023 (20,891 enterprises).
Specifically, the number of newly established enterprises in the first month of 2024 reached 13,536 enterprises, an increase of 24.8% over the same period in 2023. This is the highest number of enterprises entering the market in the first month of the year ever. Up to now, this is 1.3 times higher than the average newly established enterprises in January in the period 2018-2023 (10,522 enterprises). This number increases by 24.8% over the same period in 2023.

The second bright spot is that the average registered capital size of businesses continues to maintain recovery momentum from November 2023, reaching 11.2 billion VND/business, an increase of 22.4% over the same period in 2023.
This partly shows that the Government's policies to help businesses unlock capital sources from the second half of 2023 continue to be effective, increasing confidence for businesses when making decisions. invest capital in production and business.
The total registered capital added to the economy in January 2024 is 370,101 billion VND (down 2.1% over the same period in 2023). Of which, the registered capital of newly established enterprises is 151,451 billion VND (up 52.8% over the same period in 2023).

Businesses are excited to enter the market

Vietnam is attractive in the semiconductor industry

However, the data also recorded that businesses temporarily suspending business for a limited time in January 2024 amounted to 43,925 businesses, an increase of 25.5% over the same period in 2023 and the highest level in the first month of the year before. up to now. Including businesses waiting for liquidation and dissolution procedures, in January 2024 there were 53,888 businesses withdrawing from the market, an increase of 22.8% over the same period in 2023.
Although, January every year is the time to withdraw from the market. The number of enterprises temporarily suspending business for a certain period of time is often higher than in the remaining months of the year because enterprises often choose to temporarily suspend operations at the beginning of the fiscal year. However, the Department of Business Registration Management stated that difficulties and challenges for businesses from 2023 still exist.

The number of businesses returning to operations in January 2024 is 13,799 businesses, down 8.4% compared to the same period in 2023. The number of businesses returning to operations increased in 6/17 fields, specifically: real estate business There are 645 enterprises, an increase of 29.3%; information and communication has 355 enterprises, an increase of 11.6%; Processing and manufacturing industry has 1,758 enterprises, an increase of 6.9%; Agriculture, forestry and fisheries have 216 enterprises, an increase of 5.9%...

The total number of registered employees of newly established enterprises in January 2024 increased strongly, up 50.8% compared to compared to the same period in 2023 and 31.8% compared to December 2023.

According to business representatives, many opportunities are opening up; In which, there is an opportunity to expand the market through free trade agreements (FTAs) such as: Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Free Trade Agreement between Vietnam - European Union (EVFTA)... Therefore, ministries, branches and localities need to actively support the business community to take advantage of commitments in signed FTAs, and accelerate the signing of FTAs ​​under negotiation. negotiate and research new markets to boost exports; At the same time, warn and update the latest information on trade defense measures, new standards and techniques of export partners. In addition, effectively implement trade promotion programs in the domestic market, especially through digital and e-commerce platforms.
Recently, many large technology corporations have been and will continue to invest in Vietnam, especially in the semiconductor industry. Globely News (USA) newspaper said that Vietnam has great potential to become the next Asian tiger. The International Monetary Fund (IMF) forecasts that Vietnam will rank 20th in the list of the fastest growing economies in the world in 2024...
From these factors, representatives of state management agencies on business registration believes that we can hope for positive signs of business registration activities in 2024.

In order to develop and strongly arouse the entrepreneurial spirit to welcome a new wave of investment in high-tech industrial fields, Ms. Nguyen Thi Viet Anh, Deputy Director of the Department of Business Registration Management, said that currently, there are Many investment funds approach the Vietnamese market, but Vietnam still lacks businesses that meet management standards, transparency in product quality, poor connectivity, and lack of skills to turn their products into world-class companies. strongly to attract the attention of investment funds.
"Therefore, businesses need to focus on improving management capacity, product quality and changes in stages from production to consumption to meet the requirements and trends of domestic and foreign markets." , Deputy Director Nguyen Thi Viet Anh emphasized.
According to Mr. Dau Anh Tuan, Deputy General Secretary of the Vietnam Confederation of Commerce and Industry (VCCI), in the context of the market still having many difficulties and challenges, with orders decreasing, businesses need to reduce business costs. Currently, in many places, the problem of business costs is very high, so solutions to reduce business costs need to be thoroughly promoted, and there needs to be a comprehensive solution package for reducing business costs. . At the same time, to support the business community, in 2024, the Government and ministries and branches need to change from thinking about solving difficulties to thinking about facilitating production and business; Reduce administrative procedures, reduce inspection and examination, and save time for businesses to focus on production and business.

Experts and businesses predict that the context in 2024 will still be difficult, full of uncertainties, risks, and there will always be unforeseen factors. Therefore, the important thing for the Vietnamese economy and businesses is high adaptability.
Right in the first months of the year, the Government has proposed many appropriate solutions and adapted to the world economic context, as shown in Resolution No. 01/NQ-CP, Resolution No. 02/NQ-CP, showing that The Government's determination and initiative in managing the economy. If these solutions are implemented well, they will certainly bring positive impacts to the economy, businesses and investors in Vietnam.

Nam Anh
According to PetroTimes

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