Real estate business is under the heaviest pressure

Minister of Planning and Investment Nguyen Chi Dung reported on the opinions of National Assembly deputies discussing the socio-economic and budget situation. According to Minister Nguyen Chi Dung, in 2022, 143,198 enterprises nationwide withdrew from the market, an increase of 19.5% over the same period in 2021.

Some industries have seen a high increase in the number of businesses withdrawing, such as real estate (up 42.4%); finance, banking and insurance (up 35.4%).

Minister of Planning and Investment Nguyen Chi Dung. (Photo: MPI)

Education and training (up 31.2%); information and communication (up 28.5%); processing and manufacturing industry (up 23.8%); healthcare and social assistance activities (up 19.9%); construction (up 18.8%)...

The Minister's report stated that most of the businesses withdrawing from the market were small-scale (from 0 - 10 billion VND), mainly in the service industry with 101,732 businesses, accounting for 71% of the total number of businesses withdrawing from the market, an increase of 19.6% compared to 2021.

The industry and construction sector has 38,924 enterprises, accounting for 27.2% of the total number of enterprises withdrawing from the market, an increase of 20.1% compared to 2021.

In the first 5 months of 2023, according to the minister, 88,040 businesses withdrew from the market, an increase of 22.6% over the same period in 2022.

Focusing mainly on the fields of real estate business (up 47.1%), healthcare and social assistance activities (up 42%), accommodation and food services (up 32.8%), construction (up 25.5%)...

“Data on business registration shows that real estate business continues to be the sector most heavily pressured and affected,” said Minister Nguyen Chi Dung.

The number of real estate businesses withdrawing from the market tends to increase sharply in 2022 (up 42.4% compared to 2021) and in the first 5 months of 2023 (up 47.1% compared to the same period in 2022)," Mr. Dung commented.

Stating that the number of businesses withdrawing from the market tends to increase faster than the number of businesses entering and re-entering the market, Mr. Dung said that the Government, ministries and sectors are currently implementing drastic and synchronous solutions.

Specifically, access to capital, interest rate support, market search, orders, etc. to promptly support businesses to overcome this period, especially industries and fields with an increasing number of businesses withdrawing from the market in recent times.

Source: https://www.congluan.vn/bo-truong-bo-ke-hoach-va-dau-tu-kinh-doanh-bat-dong-san-dang-chiu-ap-luc-nang-ne-nhat-post249819.html