Big rise in company registrations expected

BANGKOK: -- The Commerce Ministry expects a double-digit increase in the number of company registrations next year following the global economic recovery and growth spurred by the Asean Free Trade Agreement (Afta).

Deputy Commerce Minister Alongkorn Ponlaboot said yesterday that Afta and the Asean-China FTA should play an important role in driving growth of business registrations next year.

"The trade, service and investment liberalisation should stimulate Thai and joint-venture companies to register in the country. Enterprises will see more opportunity to do business here," said Alongkorn.

The Business Development Department reported that com-pany registrations had drop-|ped by 4.13 per cent this year |due to the global economic meltdown. Only 41,009 companies registered in Thailand during the year, while 15,746 firms shut down operations, down by 5.04 per cent from 2008.

Although a great number of businesses closed down last year, many new firms are likely to be launched in 2010 following the global and Thai economic recoveries, he said.

New businesses likely to be registered next year will mostly be involved in construction and property development to cash in on the government's Thai Khemkhaeng project, which is focused on infrastructure development.

In addition, to increase efficiency in facilitating business growth, the department has |drawn up a plan to modernise its business registration service by becoming an e-department next year.

"The department's service |quality should improve next |year. At present it is ranked 12th in the world in its efficiency as |a business facilitator," said Alongkorn.

To facilitate business registration and encourage entrepreneurs, the department has set up an institute and academy to educate new enterprises.

It will also modernise some business laws and regulations such as the Foreign Business Act to promote growth of new businesses next year, he added.

-- The Nation 2009-12-31

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Here we go with the rose tinted dreams again...

So you could say it will the HUB of new Company Registrations