Businesses increased this year despite concerns over the election

Deputy Commerce Minister, Alongkorn Ponlaboot, has revealed that the number of business registrations have increased by 25% this year, a good sign of the Thai economy despite concerns over the post election era.

According to Mr. Alongkorn, 3 types of business registration which consist of limited partnership, company limited and legal entity have increased to 5,432 or a rise of 1,111 in June of 2010 and 2011. The amount of cash flow in the businesses set up accounted to 22.4 billion THB.

Of the 3 categories, the legal entity has seen the largest rise. These are mostly in the property sector. With a 25% spike or 6,378 companies in the first half of this year compared to that of last year, It can be said that the economy is still going at a positive pace although the public is showing concern over the instability of Thai politics and the economic crisis in Europe and the U.S.

However, many businesses have closed down and eventually revoked their registrations this year which amounted to 1,088. Among this number, the legal entity tops the list of the deregistration this year. Businesses have stopped their operations by 599 compared to the same period last year.