Bangkok (VNA) - ManyThai businesses are struggling to continue operations, with 1,867 enterprises shutting up shop in July, The Nation newspaper reported.
The figure represents an18.70% increase compared to the same period last year, but in line with thetrends in business closures over the past five years, it said.
Sources at the Ministry of Commerce said some of the businesses closed due to their adjustmentsto align with changing market conditions and consumer behaviour. The closuretrends have been observed across various sectors, with general construction recording175 closures (9%), real estate 103 (6%) and hotels/restaurants 43 (2%).
The ministry also categorisedclosures based on capital ranges. Busin🌳esses with a capital of less than 1million baht (23,368 USD) accounted for 1,342 closures (71.88%). Those withcapital between 1 and 5 million baht saw 455 closures (24.37%), those withbetween 5 and 100 million baht accounted for 63 closures (3.37%), and thosewith capital exceeding 100 million baht saw 7 closures (0.37%)./.
Thai businesses have set their sights on expanding trade and investment in Cambodia, especially in processed food, agriculture, tourism, renewable energy, plastic, and gems and jewellery.
Thailand recorded 300 billion USD in trade with other member countries of the Regional Comprehensive Economic Partnership (RCEP) in 2022, up 7.11% year on year, official data showed.
The Joint Trade Committee of Thailand and Malaysia will hold discussions at the end of this year to strengthen bilateral trade cooperation, deputy spokesperson of the Thai Government Rachada Dhnadirek has said.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Illustrative image (Photo: The Nation) 
