Business registrations in Thailand fall 7% in August

[webfact]

Business registrations fall 7% in August

By The Nation

 

 

The number of newly registered companies fell to 5,538 in August, down 7 per cent year on year and 2 per cent from July.

 

"Total share capital of companies registering their business in August was Bt14.31 billion," said Department of Business Development deputy director-general Sorada Lertapachit.

 

Meanwhile a total of 1,337 companies closed in August, down 24 per cent year on year, but up 6 per cent compared to July.

 

"Combined share capital of companies that closed [in August] was Bt5.40 billion, down 81 per cent year on year from Bt23.52 billion," she said.

 

In the Eastern Economic Corridor (EEC), 4,353 new companies registered from January to August, down 12.5 per cent year on year. The majority (3,087) were located in Chonburi province and most (60.63 per cent) were in the services sector – property, construction, and food – followed by retail and manufacturing businesses.

 

Foreign investors hold a combined 40.51 per cent stake in the new companies – dominated by Japan (48.19 per cent), China (11.11 per cent) and Singapore (5.46 per cent).

 

Most new foreign investment (52.97 per cent) was in Rayong province and focused on automotive parts manufacturing.

 

Investment was being boosted by government efforts to mitigate the Covid-19 impact, and growth of businesses meeting demand in the “new normal” era, Sorada said.

 

However, a second Covid-19 wave after the country reopens to foreign tourists next month would hit business and investor confidence, so the government should impose strict health screening for tourists, she added.

 

Reopening to tourists will benefit the service and tourism sectors, including transportation, accommodation, restaurants, and travel businesses, she said.

 

"Therefore, we expect business registrations to hit the target of 70,000 companies or 5,500 companies per month at the end of this year.”

 

Source: https://www.nationthailand.com/business/30395086

 

-- © Copyright The Nation Thailand 2020-09-25

 

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[RichardColeman]

31 minutes ago, webfact said:

Reopening to tourists will benefit the service and tourism sectors, including transportation, accommodation, restaurants, and travel businesses, she said

Sorry, but I cannot see any of those sectors benefiting much from an incoming 40 tourists a day.

 

Putting it into perspective, with 40 tourists arrival a day, there would be a need for a maximum of about 13 taxis all day at the airport if each did 3 fares. 

[Chelseafan]

15 minutes ago, RichardColeman said:

Sorry, but I cannot see any of those sectors benefiting much from an incoming 40 tourists a day.

 

Putting it into perspective, with 40 tourists arrival a day, there would be a need for a maximum of about 13 taxis all day at the airport if each did 3 fares. 

 

14 taxis ????

 

[ThailandRyan]

Talking about new business registrations when the entire economy is hemorrhaging jobs and businesses are closing. Am i missing something or not.  Why and how this economy is still supporting the booming construction trade just amazes me at the hopefull thinking these folks have.  Seems to me the automotive industry is also undergoing a consolidation of some sort, yet new autos are selling like hot cakes. The Mercedes dealer near me is selling cars left and right. I have even seen advertisements for buying condos that now give away either a Mercedes or a Porsche when buying.  Someone has money to burn but it sure is not the masses. The house of cards keeps getting taller and the Thb now seems to have Eagles wings.  

[hotchilli]

5 hours ago, webfact said:

Reopening to tourists will benefit the service and tourism sectors, including transportation, accommodation, restaurants, and travel businesses, she said.

That remains to be seen.. you may be open for business but that does not mean anyone's coming to dine !

We've had the "eggs in a basket" decimate certain areas, lets not start with the "counting chickens before they've hatched" !!

[AbeNormal]

and how many existing businesses have gone to the wall, a more important statistic and one that seems to have been ignored

[AbeNormal]

4 hours ago, ThailandRyan said:

Talking about new business registrations when the entire economy is hemorrhaging jobs and businesses are closing. Am i missing something or not.  Why and how this economy is still supporting the booming construction trade just amazes me at the hopefull thinking these folks have.  Seems to me the automotive industry is also undergoing a consolidation of some sort, yet new autos are selling like hot cakes. The Mercedes dealer near me is selling cars left and right. I have even seen advertisements for buying condos that now give away either a Mercedes or a Porsche when buying.  Someone has money to burn but it sure is not the masses. The house of cards keeps getting taller and the Thb now seems to have Eagles wings.  

certain people have suddenly got much richer these last 6 months 

 

all these huge government budgets, where is is going  

[ronaldo0]

And by December watch the numbers that haven’t been registered for the following year plummet as they all close for good due to the government locking the country down still !