The business registration situation in March 2024 in Ho Chi Minh City

In March 2024, the business registration situation in Ho Chi Minh City continued to reflect the positive recovery and development of the economy in the area. This surge in business registration underscores the city’s attractiveness as a prime destination for doing business in Vietnam.

1. Overview

The summary report of enterprise registration in Ho Chi Minh City in March 2024 is as follows:

• New registrations: 4,953 enterprises, with a total newly registered capital of 39,253 billion VND.
• Resumed operations: 928 enterprises.
• Temporarily suspended operations: 1,325 enterprises.
• Dissolved: 286 enterprises.

Compared to the same period last year, there was a 1.5% increase in the number of registered enterprises, a 15.5% increase in registered capital, a 13.9% increase in the number of enterprises resuming operations, a 13.5% decrease in the number of enterprises temporarily suspending operations, and a 15.4% decrease in the number of dissolved enterprises.

2. Business registration information by type and field of enterprise

Regarding the type of enterprises, limited liability companies (‘‘LLCs’’), including single-member LLCs and multi-member LLCs, continue to be a popular choice for small and medium-sized enterprises due to their flexibility in management and limited liability.

Prominent sectors in March 2024 include:

• Wholesale and retail; automotive and motorcycle repair.
• Manufacturing and processing industry.
• Construction.
• Science, technology; consulting, and design services.

Increasing essential consumer demands, the development of e-commerce, and the boom of industrial zones are driving traditional sectors such as wholesale and retail, manufacturing and processing industry, as well as science, and technology. Meanwhile, the high demand for housing and transport in Ho Chi Minh City is creating  opportunities for sectors like automotive and motorcycle repair, construction, consulting, and design services.

3. Conclusion

In summary, the enterprise registration situation in Ho Chi Minh City in March 2024 reflects a strong recovery and positive outlook for the local economy. This trend solidifies Ho Chi Minh City’s position as an ideal destination for doing business in Vietnam, offering abundant foreign business opportunities.

Download full report: [here].

If investor seek to discover more about Doing business in Vietnam, regarding to business registration please visit our related articles: [here].

Source: Data and information cited from the official website of the Department of Planning and Investment of Ho Chi Minh City: [here].