Thailand’s Minister of Commerce has reported the number of business registrations during October increased by 2 percent year-on-year, while business closures also posted a rise of 4 percent.
Pongpun Gearaviriyapun, Director-General of the Department of Business Development, said that a total of 5,384 new businesses were registered in October, higher than the same month of last year by 2 percent, with an investment capital of THB20.2 billion. Nonetheless, the latest registration figure represented an 11 percent drop from September.
The largest portion of the new businesses belonged to the construction sector, numbering almost 600, followed by real estate, restaurant, machinery and management consultancy businesses.
It is expected that there will be between 60,000 and 62,000 businesses registered with the department throughout this year. Pongpun attributed the hike in registration figure to the government’s economic stimulus measures, particularly the investment in mega infrastructure projects.
Similarly, the number of business cancellations in October also saw an increase of 4 percent from last year to 1,641 cases. As a result, the cancellation number during the first ten months of this year accumulated to 11,800.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
