Thailand: August sees 20% jump in new company registrations

Registrations for new companies jumped 20 per cent in August from the previous month.

Some 7,159 companies were added to the register for the month, which represented a 15 per cent rise from August last year, according to Banjongjitt Angsusingh, director general of Business Development Department of Commerce Minister.

By value, the newly registered companies were worth Bt47.35 billion, up 123 per cent from July 2017 and 145 per cent from August 2016.

The number of company that went into liquidation in August was 1,755 companies, up 8 per cent from July this year and 0.5 per cent compare from August 2016, Banjongjitt said yesterday.

The five most popular sectors for new registrations were construction, property development, restaurants, logistics and management advisories, she |said.

For the first eight months of this year, 49,080 companies gained registration, an increase of 14 per cent from the same period of last year. The value of these companies is Bt232 billion.

 “We forecast that new registrations will exceed 66,000 by the end of this year,” Banjongjitt said.

She expressed confidence that under the World Bank’s index that measures the ease of doing of business in countries, Thailand’s score will improve from last year. She said the department had revised the process for registration, resulting in approvals taking 2.5 days compared to 25.5 days previously.

Source: http://www.nationmultimedia.com/detail/Economy/30326698