Hanoi welcomes 9,400 new firms in four months

Hanoi, May 8 (VNA) – The capital city of Hanoi witnessed 9,400 enterprises enter the market with the total registered capital of 97.6 trillion VND (3.84 billion USD) during January-April, falling 6% in the number of firms and rising 9% in capital as compared to the same time last year, according to the municipal Statistics Office.

The city saw the resurgence of 4,500 companies that had previously ceased operation, a year-on-year increase of 10%.

Meanwhile, more than 14,200 enterprises dropped out of the market, and 1,400 others were dissolved during the period, growing 24% and 12%, respectively, against the same period in 2023, posing great challenges to the labour market.

Director of the department Dau Ngoc Hung said the employment rate at industrial enterprises decreased 2% year on year, adding the number of workers in foreign-invested and non-state sectors fell 2.5%.

The figures in the sectors of processing and manufacturing, and power and gas production and distribution slid 2.5% and 0.4%, and those in water supply and waste treatment and mining rose 1.3% and 45.6%.

However, thanks to the municipal People’s Committee's resolve and rational solutions, the index of industrial production in the four-month period increased 4.5% against the same time last year, with processing and manufacturing up 3.6%, power generation and distribution up 13.6% and water supply and waste treatment up 9%.

As various measures were rolled out to lure more foreign direct investment (FDI) projects, the city attracted more than 1.13 billion USD in FDI capital during January-April.

The local administration also held meetings and dialogues with businesses in an effort to remove bottlenecks and help workers stablise their jobs.-VNA