In June last year, Ngo Dinh Vuong halted the operation of his garment factory in Quang Minh Industrial Park in Hanoi’s Dong Anh District due to the health crisis. The factory was opened in late 2018 and is the third to have been opened by Vuong in the northern region of the country since 2016. Then in July, the second factory, based in Hung Yen Province, faced the same plight, leaving the first factory operating moderately also in Hung Yen. The three factories are managed by Hoang Yen Garment and Trading JSC, established in 2016, where Vuong is the director. However, in early January, the two factories with halted operations began resuming operations as some big contracts have been landed with local and foreign experts. This would allow 800 workers to have incomes. “We are happy that all of our three factories are in full operations now,” Vuong told Nhan dan Online. Hoang Yen Company’s case is among more than 11,000 enterprises resuming operation in the first two months of this year nationwide. According to the General Statistics Office (GSO), also in the first two months of 2021, the economy saw 18,100 newly-established enterprises with total registered capital of VND334.8 trillion (US$14.55 billion), employing 172,800 new labourers – up 4% in the number of enterprises, 52.2% in capital, and 9.7% in the number of labourers as compared to those in the same period of last year. In particular, the average registered capital of each newly-established business in the two months of the year is VND18.5 billion (US$804,347), up 46.4% year-on-year. If an additional VND385.6 trillion (US$16.76 billion) registered by 6,500 operational enterprises is included, the total registered capital inserted into the economy in the first two months is VND720.4 trillion ($31.32 billion). In February, despite the Lunar New Year, the number of newly-established firms hit more than 8,000 registered at VND179.7 trillion (US$7.81 billion), down 20.3% in the number of enterprises …
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