Large number of Vietnamese firms resume operation in Q1

A large number of Vietnamese firms have resumed their operation in the first quarter of 2014, triggering positive signs of economic recovery. According to Vietnam's Ministry of Planning and Investment on Wednesday, in the first three months of 2014, over 4,600 firms have recovered after being ceased, an increase of 50 percent over the fourth quarter in 2013. During the three-month period, over 18,350 new firms were granted license to be established with a total capital of nearly 98 trillion Vietnamese dong (4.65 billion U.S. dollars), an increase of 16.9 percent in number and 23.4 percent in capital over the same period in 2013. In the first quarter, there were over 16,740 firms ceasing operation or announcing bankrupt, up 9.6 percent year-on-year.