Commerce Min expects over 70,000 business registrations this year

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BANGKOK, 10 September 2013 The Commerce Minister is expecting to see more than 70,000 newly-opened businesses by the end of this year, thanks to the government’s mega-projects which will be the main factor in driving the Thai economy. 

Deputy Commerce Minister Nattawut Saikua has disclosed that there were 6,330 businesses applying for registration in August, only 73 fewer than July’s figure, but a 13 percent rise year-on-year. He said the August’s registered capital amounted to 30.9 billion baht, 246 million baht higher than in the previous month. The deputy minister also expects the number of newly-registered businesses to reach 70,000 by the end of this year, the highest ever since the establishment of the Department of Business Development (DBD). He added that 1,248 businesses closed down in August nationwide.

He further revealed that the top 3 businesses registered in August were in the construction, radio and television service, and real estate industries.

Although the Thai economy will not be as prosperous this year as it was last year, the government’s mega-projects including the 2.2 trillion baht infrastructure and the 350 billion baht water management will be the key to economic growth in the last 4 months of 2013, said the Deputy Minister.