According to the latest report from the Ho Chi Minh City Statistics Office, the situation for businesses at the start of this year is not looking optimistic.
The agency assessed that the business environment in Ho Chi Minh City has not shown positive changes, with a 7.5% decrease in the number of businesses entering the market, while the number of businesses exiting has increased by 14.6% compared to the same period last year.
From January 1 to January 20, the city granted licenses to 1,802 businesses with a registered capital of 10.393 trillion VND, marking a significant decline of 45.4% in the number of licenses issued and a 73.4% decrease in registered capital compared to the same period last year. Among these, 91.6% were new limited liability companies; joint-stock companies accounted for 7.5%, and private enterprises made up 0.9%.
Specifically, there were 1,650 limited liability companies with registered capital of 7.815 trillion VND, reflecting a 45.5% drop in licensing and a 76.3% decrease in capital compared to last year.
There were 136 joint-stock companies with registered capital of 2.543 trillion VND, which is a 45.2% decline in licensing and a 58.2% drop in capital.
For private enterprises, there were 16 companies with registered capital of 35 billion VND, showing a 42.9% decline in licensing but a significant increase of 276.9% in capital.
Looking at the economic sectors, 81.8% of new businesses were in the trade and service industry, while 17.9% were in the industrial and construction sectors, and 0.3% were in agriculture, forestry, and fisheries.
Specifically, in the agriculture, forestry, and fisheries sector, there were 5 licensed businesses with a registered capital of 40 billion VND, representing a 16.7% decrease in licensing and a 73.8% drop in capital compared to last year.
The industrial and construction sector saw 323 licensed businesses with registered capital of 1.992 trillion VND, marking a 46.6% decline in licensing and a 60.6% decrease in capital compared to the same period last year.
The service sector saw 1,474 licensed businesses with registered capital of 8.361 trillion VND, which is a 45.2% decline in licensing and a 75.3% decrease in capital compared to last year. Within this sector, there were 721 businesses in trade, 192 in science and technology, 63 in real estate, 86 in transportation and warehousing, 25 in finance, banking, and insurance, and 98 in information and communication.
Regarding foreign direct investment, the total foreign investment in Ho Chi Minh City in 2024 reached 3.041,3 million USD, nearly a 50% decrease compared to the same period last year, with 1,416 new projects. The trade sector accounted for 769 projects, followed by science and technology with 279 projects, and real estate with 10 projects.
Singapore led in new project registrations with 205 projects and a registered capital of 129.8 million USD, accounting for 25.4% of the total new registered capital; Japan followed with 126 projects and 117.9 million USD, representing 23.1%; and South Korea with 145 projects and 70.8 million USD, making up 13.9%.