New firms to hit record 60,000 this year
The number of new businesses in Thailand this year will certainly exceed 60,000, the highest in 111 years of record-keeping, reflecting strong confidence in the economy, according to the Business Development Department.
The department reported that the number of new businesses reached 59,305 in the first 11 months of 2012, an increase by 12 per cent year on year. The number of newly registered companies surged significantly by 119 per cent year on year to 6,458 firms.
The combined investment capital of new firms established in November stood at Bt30.68 billion, an increase of 80 per cent year on year, but down by 19 per cent from October.
Deputy Commerce Minister Natthawut Saikua said yesterday that the number of new businesses would continue to increase this month and throughout next year thanks to the positive outlook for the country’s growth and better economic circumstances than last year.
Most new businesses registered in November were in the fields of entertainment, TV media services, construction and property development, and pharmaceutical products.
Last month, the number of business closures also rose significantly, by 72 per cent to 1,760 companies. Over the first 11 months, 8,431 companies were shut down, an increase of 26 per cent.
The department explained that the rising number of closures resulted from the impact of the flood disaster last year.
Currently, 535,544 companies actively operate in the Kingdom.
