Thailand
Thailand: Registry of ventures dips in July
New business registrations fell again in July after rising 3% year-on-year in June, as the business sector remains worried about a second wave of the virus.
The Business Development Department reported on Wednesday new business registrations totalled 5,667 in July, down 12% year-on-year from the same month last year, with combined registered capital worth 16.7 billion baht, down 27%.
On a monthly basis, the number of new business registrations dropped 1% from June, but registered capital rose 13% from the previous month.
The top three sectors for new business registrations in July were building and construction (576), real estate (246), and logistics, transport and delivery services (172).
Sorada Lertharpachit, deputy director-general of the department, said the top two sectors remain unchanged from the previous month, but No.3 changed since May from restaurants and food outlets.
“Logistics, transport and delivery services have flourished thanks to the lockdown measures to curb the spread of Covid-19 and a change in consumer behaviour shifting to buying more consumer goods and food online,” said Ms Sorada.
Fewer restaurants are registering because tourism has been ravaged by the outbreak, she said.
Ms Sorada expects the restaurant and food outlet business will soon recover after the government pledged to beef up the tourism sector and promote state agencies to hold more training programmes or seminars in the provinces.
The number of businesses that ceased operation in July totalled 1,261, down 21% year-on-year from the same month of last year and down 6% from June.
Registered capital was 7.66 billion baht, down 7% year-on-year, but up 49% from June.
The top three sectors ceasing operations were building and construction (90), real estate (78), and restaurant and food outlets (38).
Source: https://www.bangkokpost.com/business/1975311/registry-of-ventures-dips-in-july