There were 1,339 factories with 34,569 employees and a total investment of approximately Bt56.9 billion registered for sale or out of business in the first 10 months of 2019, according to the Industry Ministry.
The factories were classified into 21 industrial groups including crop products, food, drinks, clothes, woodwork, paper, chemical products, machines, electronic devices, and automobiles.
Entrepreneurs are meanwhile expressing concern that Thailand’s subdued economic situation in 2019 would continue in 2020.
Thai Plastic Industrial 1994 PCL managing director Teerachai Teerarujinon said the future of the industry was uncertain with the risk still high.
The matter of most concern in the next two or three years would be labour security.
The majority of labourers from neighboring countries that Thailand depends upon will return to their homeland if the Thai economy got worse.