Thailand’s Department of Business Development (DBD) reported the number of business registrations during October exceeded 5,000 after the Thai economy began to show signs of recovery.
Interestingly, construction and real estate businesses were the top two new business registration sectors.
According to DBD Director General Pongpun Gearaviriyapun, a total of 5,231 new businesses were set up during October with a combined capital of more than THB 20 billion. Even though the number was a small decrease from October 2014, it still met the department’s expectation and reflected a rebound in the Thai economy.
Most of the registered businesses belonged to the construction sector, followed by real estate, restaurant, management consultancy and machinery wholesale industries.
The number of new business registrations during the first ten months of this year totaled 52,390, an increase of 1 percent from the same period last year.
On the other hand, the number of business closures was recorded at 2,187 in October, up from the same month in 2014, and totaled more than 14,000 for the ten-month period.
The majority of closures were in the lottery business.