Thanks to policies to support enterprises in stabilising production and new business development policies released by the Da Nang authorities, the number of newly-established enterprises in the city has climbed up, significantly contributing to job creation and socio-economic development as a whole.

Workers are seen at the Sinaran Viet Nam Co., Ltd in the Da Nang Industrial Park, Son Tra District. Photo: M.QUE

More recently, the Da Nang Department of Planning and Investment has reviewed, adjusted, abolished and supplemented a number of administrative procedures related to the field of business registration in accordance with current regulations.

In particular, a number of procedures were added in the direction of streamlining such as direct conversion of a private enterprise into a limited liability company or a joint stock company and the time for enterprises to make notifications on business suspension shortened from 15 to 3 days.

According to information from the Business Registration Office under the municipal Department of Planning and Investment, by May 2022, the rate of businesses establishment registrations via the electronic system accounted for 71% of the total number of dossiers.

As reported by the Da Nang Statistics Department, newly established businesses entering the market in the area in May 2022 continue to be on upward trend in terms of quantity. 

Specifically, from April 16 to May 15, the Da Nang authority granted new registration certificates to 424 enterprises, branches and representative offices with a total charter capital of more than VND2,765 billion, an increase 0.95% in the number of enterprises and 80% in the amount of the registered capital.

At the same time, 56 enterprises completed dissolution procedures, however, according to the Department of Statistics, it was remarkable that there was a significant increase in the number of temporarily- suspended enterprises resumed their operation in May with 132.

Generally, in the first 5 months of the year, the local authorities granted new registration certificates to 1,780 enterprises, branches and representative offices with a total registered charter capital of VND 11,504 billion, up 3% and 14.1% in the volumes of businesses and registered capital, respectively, as compared to the same period in 2021.

Also in the 5-month review period, only 248 enterprises and affiliated units had their dissolution procedures completed, down 26% over the same period. Meanwhile, in an optimistic sign, the number of businesses and affiliated units returning to operation increased significantly with 1,496, up 52.5% over the same period in 2021.

A rise in the number of new businesses and those returning to the market is a positive resonance from the economic recovery and development policies implemented over the past time, showing that business confidence is gradually coming back to track after two years of influence by COVID-19.

General Director of Truong Sa Tourism Trade Company Limited, Le Thai Bao Long, said that the drastic and timely implementation of policies to support locals and businesses and steps to gradually open the economy, including the revival of the tourism industry have created trust among the business community.

Enterprises are regaining the state of business in the direction of flexibly and proactively adapting to the new situation, based on the ability to innovate themselves and grasp business opportunities in the coming time.

Reporting by TRIEU TUNG - Translating by A.THU