New business registrations up in past 10 months

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BANGKOK – Although the economic outlook remains modest this year, the number of new business registrations edged up in the past 10 months.

The Deputy Director-General of the Department of Business Development, Sorada Lertharpachit, said 5,751 juristic persons, with total registered capital of 98.5 billion baht, sought registration last month. The top three sectors were construction, property and restaurants.

Registrations in October contracted 17% from the previous month. However, such a contraction is common at the end of the year and it is not expected to have an adverse impact on the Thai economy. From the first 10 months of this year, a total of 63,359 enterprises had applied for new business registrations, up by 1% year-on-year. With a lower interest rate, more registrations are expected in November and December. The number of new business registrations at the end of this year is expected to reach 72,000 by the end of this year.

A total of 2,116 businesses discontinued their operations last month, down by 2% year-on-year. The top three sectors were construction, property and restaurants. A total of 14,070 businesses were dissolved between January and October this year.