The General Statistics Office (GSO) of Vietnam has released its socio-economic report for the first eight months of the year, highlighting several positive developments.

Electric motorcycle production at the Honda Vietnam factory in Vinh Phuc, 27/3. Photo: Nguyen Linh

Electric motorcycle production at the Honda Vietnam factory in Vinh Phuc, 27/3. Photo: Nguyen Linh

Newly registered businesses in the first eight months saw a significant surge in both quantity and registered capital. Across the country, 128,200 new businesses registered, with a total registered capital of 1.25 quadrillion VND, representing increases of 15.7% and 26.1% respectively compared to the same period last year.

In addition, over 81,000 businesses resumed operations, bringing the total number of new and returning businesses to 209,000. This is a 24.5% increase compared to the same period last year and the most significant increase in three years. On average, 26,200 businesses were established or resumed operations each month.

The education and training sector saw the largest increase in new businesses (almost double), followed by industry, processing, manufacturing, and transportation and warehousing. New businesses in wholesale, retail, accommodation, food services, and healthcare also recorded double-digit growth.

Conversely, the number of businesses withdrawing from the market remains high at 160,900, a 19% increase compared to the same period last year. However, more than half of these businesses opted for temporary suspension of operations. Only 11% underwent dissolution procedures, effectively ceasing operations and exiting the market.

According to the GSO, industrial production showed positive signals from 34 localities. Nationwide, the industrial production index (IIP) increased by 8.5% over the same period, with significant growth in key industrial products such as automobiles (59.6%), televisions (21.4%), NPK compound fertilizers (17.9%), garments (14.7%), and cement (14.6%).

Total export turnover in the first eight months reached nearly 306 billion USD, while imports were around 292 billion USD, resulting in a trade surplus of approximately 14 billion USD. The US remains the largest export market with a turnover of 99.1 billion USD.

Thuy Truong