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Company registration down 13%, but E-commerce Skyrocketing

E-commerce business registrations increased fivefold during the first 10 months of this year, the Commerce Ministry’s Business Development Department reported.

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Business Development Department says it received 13% less applications for company registration this year, attributing economic slowdown as a main reason.

The department says the number of applicants amounted to 5,302 in September, down by 777 or 13% year on year.

But at the same time E-commerce business registrations increased fivefold during the first 10 months of this year, the Commerce Ministry’s Business Development Department reported.

The number of e-commerce registrations reached 15,363, up by 544 per cent compared with the first 10 months of last year.

According to Pongpun Gearaviriyapun, director-general of the department, the top three online businesses are those related to computing and the Internet, accounting for 17 per cent of the total, followed by fashion and apparel with 16 per cent, and health and medical care with 12 per cent.

The number of business closures increased in the first nine months by 16 per cent to 11,862, largely because the department has been clearing its registration system of inactive businesses.

The department projects between 60,000 and 65,000 newly registered companies this year.

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Investment

Thailand’s H1 Investment Applications rise 158% in combined value, BOI says

Japanese firms ranked first with 87 projects worth 42.8 billion baht, followed by investments from the U.S. with 18 projects worth 24.1 billion baht, and China with 63 projects worth 18.6 billion baht.

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In the first six months of 2021, Thailand’s investment applications increased 14% from the year earlier period in terms of the number of projects, and 158% in combined value, led by increasing foreign direct investment (FDI) applications, sustained growth in target industries including the electronics and medical sectors, as well as in power generation, the Thailand Board of Investment (BOI) said.

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Business

Large Shopping Malls in Bangkok Will Be Closed until July 25th

Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.

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BANGKOK (NNT) – Large-scale shopping malls in Bangkok and in some dark-red zone provinces are now closed for two weeks, to comply with the latest COVID-19 curbs in 10 provinces.

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