New business registrations continued to rise in June, reflecting strong support from the government, the Commerce Ministry's Business Development Department said.
The trend was particularly seen in big infrastructure sectors that help spur investment, the department's director-general, Banjongjitt Angsusingh, said.
Ms Banjongjitt said 6,525 new businesses registered with the department in June, up 12% from the previous month and 10% from the same period of last year.
The total new registered capital was 40.9 billion baht in June, up 30% from May and 130% from the same period last year, she added.
"The key sectors that private firms invested in and registered new companies in are logistics, construction and real estate," Ms Banjongjitt said.
She added the government's support played a major role in this trend.
Ms Banjongjitt said the rise in new registered companies in June reflected a brighter economy as it implies that investor confidence has been strengthened. She said she also expected an increase in private investment in the second half of this year.
She said the rising number of new businesses was largely due to continued supporting measures of the Board of Investment, which offered investment and tax incentives to attract foreign investment.
Moreover, a rising number of tourists has created higher revenues nationwide, particularly in remote areas, and this has boosted local purchasing power, which in turn looks to spur further new business registrations in the second half of the year, she said.
Ms Banjongjitt said the total new business registrations are on course to outpace the target of 66,000 companies, pointing to continued business recovery in the second half of this year.
She said the government's investment in major infrastructure projects are expected to lend further support to the growing rural economy.