BANGKOK, Thailand –– Thailand saw a surge in business registrations in October 2024, with over 7,000 new companies established, representing a 9.33% increase compared to the same period last year. Registered capital for these companies exceeded 30 billion baht, a 10.80% rise, according to government reports.
Ms. Sasikarn Watanajan, Deputy Government Spokesperson, revealed data from the Department of Business Development under the Ministry of Commerce, November 23. A total of 7,267 new companies were registered in October, driven by the merger of two major corporations, Makro and Lotus, into CP Axtra Public Company Limited. This merger contributed significantly, with over 1 billion baht in registered capital.
The top three sectors for new registrations in October were:
- General building construction
- Real estate
- Restaurants and dining establishments
Year-to-Date Overview
From January to October 2024, a total of 76,953 new companies were registered, marking a 2.18% increase from the previous year. Registered capital during this period amounted to 238.63 billion baht.
Outlook for November–December 2024
The government anticipates continued growth in new business registrations due to:
– The commencement of infrastructure projects under the 2025 fiscal budget.
– Recovery in consumer spending as tourism expands.
– Increased factory establishment across various regions.
It is estimated that total new business registrations for 2024 could surpass 90,000, reflecting a growth rate of 5–15%.
Existing Business Landscape
As of October 31, 2024, Thailand had 841,727 active businesses with a total registered capital of 22.34 trillion baht, categorized as follows:
– Limited Companies: 737,658 (78.33%), with 16.15 trillion baht in capital (72.30%).
– Partnerships and Juristic Persons: 202,588 (21.51%), with 470 billion baht in capital (2.11%).
– Public Companies: 1,481 (0.16%), with 5.72 trillion baht in capital (25.59%).
The government predicts that by mid-2025, the number of registered businesses in Thailand will exceed 1 million. (TNA)
