Registration of new firms to rise beyond year’s target
NEW companies registered in Thailand this year will surge beyond the targeted 60,000 to up to 65,000 this year, while it is expected the 2017 figure will surpass this year’s figure due to the positive outlook of stronger economic growth and |effective business management for business registrations.
Banjongjitt Angsusingh, director-general of the Business Development Department, said there had been a spike in new businesses late this year through to next year as a result of the government’s economic stimulation measures and investment promotion measures, income tax exemption, keeping the VAT at 7 per cent, as well as stronger tourism.
“Many government policies will encourage setting up of new start-up firms and small and medium-sized enterprises. Enterprises will consider this is a good time to start new investments and expand businesses next year,” she said.
The department reported that the number of new businesses in November was up 14 per cent year on year to 5,799 firms, the largest monthly registrations in four years. Initial investment capital in the month increased 2 per cent year on year and 9 per cent from October to Bt16 billion.
In the first 11 months, the number of new businesses rose 5 per cent to 59,878 year on year. The combined initial investment value was Bt214.52 billion, an increase of 2 per cent year on year.
The strong increase in the number of new firms was also attributed to the government’s policy to force gold shops and medicine shops to register with the department in order to easily regulate them.
The department also reported that 15,820 companies shut down in the first 11 months, down 6 per cent year on the year.
A total of 646, 460 companies are actively operating in the country, of which 1,152 are public companies.
In addition, the department reported 21,731 online traders are registered. Most are fashion and clothing businesses, followed by healthcare products, and IT and software.
