Thailand's newly set up businesses in Q1 highest in 111 years

BANGKOK, April 22 (TNA) - Private-run businesses have continued expanding in Thailand, thanks to confidence in the country among international investors. Deputy Commerce Minister Nattawut Saikua said on Monday that a total of 19,673 new businesses were registered throughout Thailand during the January-March 2013 period, the highest record in 111 years and a 20 per cent year-on-year increase. Nattawut acknowledged that during the first quarter of this year, 831 firms in Thailand, however, closed down their businesses, a 9 per cent year-on-year drop. According to the deputy commerce minister, 5,753 new firms were registered nationwide in March 2013 alone, a 5 per cent increase from the corresponding period of 2012, with construction, property and service sectors ranked the first top three newly-registered businesses respectively. The deputy commerce minister noted that officials of his ministry's Department of Business Development are closely monitoring negative impacts from the strong Thai baht and other risk factors, including consequences of economic recovery of Thailand’s trading partners, which may hurt businesses in the Kingdom, and will later ask concerned agencies to find ways to assist the affected businesses. (TNA)