According to data from the Ministry of Planning and Investment (MPI), the country had nearly 13,200 newly-established enterprises in July, down 0.7 percent compared to the previous month but up 50.7 percent over the same period last year. Generally, there were 133,700 newly registered and reopened enterprises in the first seven months of 2022, up 26.8 percent over the same period last year. On average, there are 19,100 newly-established and reactivated enterprises per month. The number of enterprises withdrawing from the market was 94,600 enterprises, an increase of 18.7 percent. On average, more than 13,500 enterprises withdrew from the market a month.
The accumulated State budget revenue in the first seven months of 2022 is estimated at VND1.09 quadrillion, achieving 77.5 percent of the yearly estimate, up 18.1 percent over the same period last year. The accumulated State budget expenditure reached VND842.7 trillion, equaling 47.2 percent of the estimate, an increase of 3.7 percent compared to the first seven months of 2021. It ensures the needs of socio-economic development, national defense and security, State management, payment of due debts, and timely payments to subjects as prescribed.
Meanwhile, the total retail sales of consumer goods and services in July 2022 are estimated at VND486 trillion, up 2.4 percent over the previous month and 42.6 percent over the same period last year. The scale and growth rate were higher than in the same period in the years before the Covid-19 pandemic. In the first seven months of 2022, the total retail sales of consumer goods and services are estimated at more than VND3.2 quadrillion, up 16 percent over the same period last year, if excluding the price hike factor of 11.9 percent.
According to experts from the MPI, the above data shows that the economy is on the way to recovery.