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42,000 Companies Register From January to June - Vietnam Briefing News

Sept. 9 – An estimated 42,000 companies formally registered in Vietnam during the first six months of the year with a combined capital of more than VND250 trillion.

The number of companies this year so far is 0.25 percent more than 2009 with 27.8 percent higher registered capital. An average of 6,000 to 7,000 companies were established monthly, according to the Ministry of Planning and Investment.

The increased business activity in the country indicates that despite the effects of the Global Financial Crisis, economic confidence remains stable.

In June, the country’s gross domestic product amounted to VND855.2 trillion; pushing the economy to grow by 6.16 percent during the first six months of the year.

The Asian Development Bank predicts that Vietnam will be able to meet its GDP target of 6.5 percent by the year’s end.  According to the Ministry of Planning and Investment, total export turnover is forecast to increase by 17 percent in 2010 and the trade deficit to be less than 20 percent of total export turnover.