New corporate registrations hike in Thailand
Saturday, 22/07/2023 10:30 (GMT+7)
New corporate registrations are expected to reach 83,000-90,000 this year, boosted by the increase in foreign tourists and the Thai economic recovery, outstripping an earlier projection of 75,000-78,000, reported the Thai Commerce Ministry's Business Development Department.
|Illustrative image (Photo: Bangkok Post)
The department said on July 20 that in the first half of this year, the number of new business registrations increased by 17.3% to 47,286 year-on-year, a record in the past decade. Registered capital amounted to roughly 429 billion THB (over 12 billion USD), up 53%.
The top three sectors with the highest number of new registrations were general building construction, real estate, and the hotel/restaurant business.
In contrast, there were 7,097 business closures during the same period, up 18% annually and down 15% in registered capital, which amounted to 49.6 billion THB.
The top three industries with the highest number of business closures were also general building construction, real estate, and the hotel/restaurant business.
Given the positive growth trend, the department has adjusted its estimate, with the number of new corporate registrations in the second half projected at 36,000-43,000, raising the total number for the entire year to around 83,000-90,000, up from 76,488 registered in 2022./.
CPV (Source: VNA)