Business registrations surge 5% y-o-y in first five months
Thailand saw an increase of 5% in the registration of new businesses during the first five months of this year compared to the same period last year, according to the Department of Business Development (DBD).
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In May, a total of 5,865 new businesses were registered with the Ministry of Commerce, an increase of 1% year-on-year, with a combined registered capital of 21.09 billion baht. The top three businesses were construction, real estate, and restaurants.
The increase was in line with the country’s economic expansion triggered by exports, tourism, government spending on basic infrastructure, and the establishment of the Eastern Economic Corridor (EEC).
Between January and May this year, the number of newly-registered businesses was no fewer than 31,000, accounting for an increase of 5%, said DBD Director-General Kulanee Issadisai, expressing her confidence that the number of new businesses will top 80,000 this year thanks to the Ministry of Commerce’s economic measures and policies.
She added that 1,014 businesses were deregistered in May which was a decrease of 6% compared to the same month in 2017.