Bangkok (NNT/VNA) - More than 7,000 new businesses were registered Thailand in January, a strong indication of the country’s economic expansion, according to the Thai Department of Business Development (DBD).

The department expects there will be 70,000 - 72,000 new businesses this year.

DBD Director-General Vutttikrail Leewiraphan said there were a total of 7,311 new businesses last month, an increase of 5 percent year-on-year, and a 78 percent leap from the previous month.

The top three new businesses last month were in construction, real estate and logistics. The combined capital for the new businesses in January was about 17.7 billion baht. However, the director-general expects that figure will contract slightly this month.

He also pointed out that 1,400 businesses applied for deregistration last month, an increase of 4 percent year-on-year. There were a total of 718,777 businesses operating nationwide at the end of January 2019.-NNT/VNA