65,000-plus new business registrations expected in 2017
NEW company registrations are expected to surge beyond 65,000 next year from about 60,000-65,000 anticipated this year, based on the Commerce Ministry’s positive outlook on economic growth and more efficient management of its business-registration procedure.
Banjongjitt Angsusingh, director-general of the Business Development department, said more investors were expected to start new companies next year as a result of the government’s promotional measures such as income-tax exemptions, keeping the value-added-tax rate at 7 per cent, and stronger tourism and export growth.
“Thailand will maintain the momentum of promoting investment under a strategy to develop the local economy and increase employment. The promotional plan to encourage the setting up of start-ups and small and medium-sized enterprises will help increase investment next year,” she said.
Starting from late this year, gold shops and medicine shops will also need to register with the department so they can be more easily regulated in the future.
Moreover, the Transaction Security Act and single-person-company legislation have encouraged more business launches, the department claims.
The department reported that the number of new business registrations in the first 10 months rose 3 per cent year on year to 54,079 companies. Combined initial investment value was Bt198.51 billion.
However, the number of new registrations in October was down by 3 per cent to 5,092 companies, while initial investment capital was down 30 per cent year on year to Bt14.72 billion.
