Business registrations in 2016 hit 3-year high

Business registrations in 2016 hit 3-year high

BANGKOK, 24 January 2017 (NNT) – The Department of Business Development (DBD) has reported that business registrations last year totaled over 64,000, the highest in three years, following signs of economic recovery and investment stimulus measures. 

According to DBD Director-General Banjongjitt Angsusingh, a total of 64,288 new business entities were set up throughout 2016, with a combined capital of 236 billion baht. The registration number was 7 percent higher compared to 2015 and reached a three-year record high. The government’s investment promotion policy and economic improvement were cited as the main supporting factors. 

Moreover, there were 20,938 business cancellations last year, decreasing 7 percent from the year before. As a result, about 1.36 million businesses are currently in operation in Thailand. 

As for 2017, the DBD Director-General anticipated continued growth in the registration of new businesses, estimating that 66,000 entities or more will be registered.

 

-- nnt 2017-01-24