The number of real estate and construction enterprises rose sharply in 2017, by 62 per cent against 2016, with registered capital rising 66.5 per cent.

The total number of newly-established enterprises and enterprises returning after suspending operations were 153,307 in 2017, according to the Ministry of Planning and Investment, of which 126,859 were newly-established enterprises.

Total registered capital was VND3.2 trillion ($140.9 million), including registered capital of VND1.3 trillion ($57.2 million) at newly-registered enterprises and additional registered capital of VND1.8 trillion ($79.2 million).

Wholesale retail, repair, automobiles and motorbikes saw 45,411 newly-established enterprises, accounting for 35.8 per cent of the total, manufacturing and processing 16,191 enterprises, or 12.8 per cent, and construction 16,035 enterprises, or 12.6 per cent.

Wholesale, retail, and motor vehicles had the largest number of registered enterprises. In terms of growth, real estate lead the way, with numbers increasing 62 per cent.

Registered capital in real estate businesses reached VND76.7 billion ($3.37 million) on average in each enterprise, electricity, water and gas distribution VND65.7 billion ($2.8 million), arts and entertainment VND18.2 billion ($801,472), and natural resources exploitation VND17.6 billion ($774,934).