Illustrative image (Photo: Bangkok Post) Bangkok (VNA) - New corporate registrations are expected to reach 83,000-90,000 this year, boosted by the increase in foreign tourists and the Thai economic recovery, outstripping an earlier projection of 75,000-78,000, reported the Thai Commerce Ministry's Business Development Department.
The department said on July 20 that in the first half of this year, the number of new business registrations increased by 17.3% to 47,286 year-on-year, a record in the past decade. Registered capital amounted to roughly 429 billion THB (over 12 billion USD), up 53%.
The top three sectors with the highest number of new registrations were general building construction, real estate, and the hotel/restaurant business.
In contrast, there were 7,097 business closures during the same period, up 18% annually and down 15% in registered capital, which amounted to 49.6 billion THB.
The top three industries with the highest number of business closures were also general building construction, real estate, and the hotel/restaurant business.
Given the positive growth trend, the department has adjusted its estimate, with the number of new corporate registrations in the second half projected at 36,000-43,000, raising the total number for the entire year to around 83,000-90,000, up from 76,488 registered in 2022./.
