Number of newly registered businesses drops 19% last month

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BANGKOK, 19 May 2014  – The number of newly registered businesses in the month of April declined by 19 percent, thanks to the ongoing conflict that has dragged on for over six months. 

Deputy Commerce Minister Nattawut Saikua revealed that a total of 4,265 new businesses registered with the ministry last month. When compared to the figure in March, the number in April represented a 19 percent drop.

The combined value of registered capital in April was more than 17 billion baht, with construction business topping the list, followed by real estate, machinery, restaurant, and management consulting businesses.

According to Mr. Nattawut, more than 800 companies were forced to close their businesses due to the effects from the political crisis in the country which has caused delays in government spending and impaired overall business confidence.

The political unrest also prompted the central bank to lower this year’s GDP forecast to 2.7 percent.