BOT Reports Show a Significant Increase in New Business Registrations

[snoop1130]

 

The Bank of Thailand (BOT) has highlighted a positive trend in the business sector, where ongoing business registrations continue to surpass closures. This suggests the economy is strong and that job availability is unaffected. Piti Disyatat, BOT Assistant Governor for Monetary Policy Group, drew attention to these promising economic signs, noting that investment and jobs in new businesses are rising.

 

In May 2024, 171 new factories were set up in the country. This is up from 143 in the same period last year, resulting in total investment of 16.8 billion baht. Jobs in these factories increased to 9,836 in May 2024, an improvement from 3,936 in the previous year, says the Department of Industrial Works.

 

April 2024 showed a significant rise in new businesses, with 6,530 opening their doors compared with 6,041 in April 2023, according to the Business Development Department. The total capital of the new businesses amounted to 27.3 billion baht, marking a 30.5% increase from the previous year. Meanwhile, business closures shrank by 13.5%.

 

To support economic growth, the central bank is focusing on enhancing access to credit, particularly for small and medium-sized enterprises (SMEs). New government strategies encompass a 5 billion baht low-interest loan scheme and a 50 billion baht credit protection fund. These measures form part of the "IGNITE THAILAND" initiative aiming to stimulate economic activities and enable SMEs to easily access finance.

 

File photo for reference only

 

-- 2024-06-18

 

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[hotchilli]

16 hours ago, snoop1130 said:

The Bank of Thailand (BOT) has highlighted a positive trend in the business sector, where ongoing business registrations continue to surpass closures. This suggests the economy is strong and that job availability is unaffected.

Fantasy land.

[NedR69]

Bull crap...there was a story just a few days ago highlighting factories that are closing or have closed.  It was specifically speaking about Suzuki and Subaru but the news story included the big picture also.  New biz openings are small and don't contribute to the GDP.  https://www.thaipbsworld.com/many-thai-industries-in-battle-for-survival/ 

 

[john donson]

russian? chinese? indian businesses?

[Peabody]

I wonder how many of these new factories it takes to replace the two car factories alone.