Thailand's corporate registrations to sustain growth in 2014

BANGKOK, January 31 (TNA) - Corporate registrations nationwide have enjoyed the highest growth in the Thai business history in 2013, while it is expected that more firms would be registered this year due to economic expansion in the country and the recovering world economy. Caretaker Deputy Commerce Minister Nuttawut Saikuar told reporters on Friday that a total of 67,302 firms in Thailand had applied for business registrations in 2013, a 5 per cent year-on-year increase. Nuttawut pointed out that last year's business registrations were considered the highest record. Thailand's five business categories having applied for corportate registrations in 2013 included construction, property, wholesale of machinery, management consultant and restaurant. According to the caretaker deputy commerce minister, a total of more than 559,700 private business firms were registered throughout Thailand last year, with their combined registered capital reaching more than 10 trillion baht. Assessing that Thailand's business registrations this year should keep growing, thanks to the global economic recovery and the setting up of a new Thai government after the February 2 general election, the deputy commerce minister noted that remaining risk factors might hinder Thailand's business registration growth in 2014 and they need to be closely monitored, including domestic consumption, private investment, government spending and the updated domestic political situation. (TNA)