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Agricultural Development Bank of China
InfoQuest

Thailand sees less new businesses set up in Q1

April 29, 2020


Abstract : The number of newly registered companies nationwide in the first quarter of 2020 was 19,415, an increase of 5,538 or 40 percent from 13,877 in the fourth quarter of 2019, but a decrease of 1,335 or 6 percent from 20,750 in the first quarter of 2019.

InfoQuest, (April 29, 2020) -- The number of newly registered companies nationwide in the first quarter of 2020 was 19,415, an increase of 5,538 or 40 percent from 13,877 in the fourth quarter of 2019, but a decrease of 1,335 or 6 percent from 20,750 in the first quarter of 2019, according to Mr. Wuttikrai Leeveeraphan, director general of the Department of Business Development under the Ministry of Commerce.

The top three categories for new businesses were construction (1,809), real-estate (1,053) and restaurants (573), accounting for 9 percent, 5 percent and 3 percent, respectively.

In March 2020, a total of 6,066 new businesses were registered with a registered capital of 24.576 billion baht. And the top three categories for new businesses were construction (579), real-estate (370) and restaurants (157), accounting for 10 percent, 6 percent and 3 percent, respectively.

There were 3,169 companies applying for a licence cancellation in the first quarter of 2020, a drop of 7,006 or 69 percent from 10,175 in the fourth quarter of 2019, and a decrease of 119 or 4 percent from 3,288 in the first quarter of 2019. The number of businesses canceling registration remained in the normal range.

The top three categories applying for registration cancellation in the first quarter were construction (337), real-estate (183) and restaurants (92), accounting for 11 percent, 6 percent and 3 percent, respectively.

In March 2020, 947 companies, with a registered capital of 4.529 billion baht, applied for registration cancellation. The top three businesses were construction (83), real-estate (60) and restaurants (31), accounting for 9 percent, 6 percent and 3 percent, respectively.

Mr. Wuttikrai said as of March 31, there were 762,229 companies in Thailand, with a total capital of 18.56 trillion baht. Of these, 187,116 are limited partnership/general partnership companies, 573,852 are limited companies, and 1,261 are listed companies, accounting for 24.55 percent, 75.29 percent and 0.16 percent of the total, respectively.

In March 2020, Thailand approved a total of 67 foreign investments in accordance with the Thailand Foreign Business Act, including giving 21 business licenses and 46 business scope certificates. The total investment reached up to 7.988 billion baht. And in the first quarter of 2020, a total of 180 foreign investments with a total investment of 29.026 billion baht were approved.

Japan was the largest investor in Thailand, followed by Singapore and the Netherlands. Eighteen investments came from Japan, 11 from Singapore and 6 from the Netherlands, with an investment of 3.186 billion baht, 1.116 billion baht and 757 million baht respectively.

Source: InfoQuest, by Phana / Kasamarporn/ Rachada, translated by Xinhua Silk Road

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