TAIPEI (CNA) — The number of registered companies in Taiwan has increased to a record 712,000, despite the COVID-19 pandemic, the Ministry of Economic Affairs (MOEA) said Monday, citing data valid as of July.
In the first seven months of 2020, the number increased 0.9 percent from the end of 2019, when the figure was around 705,000, the ministry said in a press release.
The increase in registered companies this year to 712,000 has set a record, rising from 656,000 in 2015 to 705,000 in 2018 and 2019, according to the MOEA’s Department of Statistics.
In the first half of this year, there were 24,543 new registrations, a growth of 1.5 percent compared with the same period last year, the department said.
Among the newly registered companies this year, 22.4 percent are listed as professional, scientific and technical enterprises, 16.8 percent as manufacturing businesses, and 13.7 percent as construction firms, according to the MOEA.
As of July, the total registered capital of the 712,000 companies in Taiwan was NT$24 trillion (US$85 billion), an increase of NT$29.7 billion from the end of last year, the ministry said.
More than half of the capital (51.5 percent) was registered in Taipei, 9.4 percent in New Taipei and 8.4 percent in Kaohsiung, according to the MOEA.
It attributed the increase in the number of registered companies to Taiwan’s success in containing the COVID-19 outbreak, noting that there were no lockdowns as in many other countries where the economies were seriously impacted.
Meanwhile, the MOEA said that while there has been a slight increase in the number of registered companies owned by women, almost 70 percent are still owned by men.
As of July, 30.9 percent of the registered companies in Taiwan were owned by females, an increase of 2 percentage points from 2011, according to the MOEA.