No. of companies set up in Q1 up 5.1 percent on-year

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No. of companies set up in Q1 up 5.1 percent on-year

The number of new companies set up in the first three months of the year rose 5.1 percent on-year on steady overseas demand for local products, government data showed Thursday.

The number of newly formed companies came to 26,747 during the January-March period, according to the Ministry of Small and Medium-sized Enterprises (SMEs) and Startups.

Among the total, 22.1 percent were in the wholesale and retail businesses, followed by 17.6 percent in the manufacturing sector, the data showed.

Another 11.5 percent were from the construction sector, while 9.2 percent were in the real estate services.


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