Tens of thousands of enterprises shut down due to Covid-19 Since the Covid-19 pandemic broke out early this year, lots of businesses in Vietnam have been dissolved or have suspended operations, while many people have been left without jobs. Data of the Business Registration Management Department under the Ministry of Planning and Investment showed that some 63,500 companies withdrew from the market between January and July, increasing by 10.9% compared with the same period last year. This means some 9,000 businesses suspended operations monthly between January and July. Meanwhile, some 75,000 enterprises were established in the country from January to July, the lowest number over the past five years. According to the Department of Employment under the Ministry of Labor, Invalids and Social Affairs, 30.8 million people aged 15 or older were severely affected by the pandemic in the first half of this year. Of them, 17.6 million people saw their incomes decline, while 7.8 million people lost their jobs or were temporarily suspended from work. The hardest hit sectors included manufacturing and processing as well as retail, transport, logistics, hospitality and catering services. In HCMC, over 23,150 enterprises were established but nearly 21,230 others shut down as of July… Read full this story
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