Five nations eyed for Thailand's expanding investment

BANGKOK, September 12 (TNA) - Thai investors have been urged to explore their business opportunities in five potential nations, including Iran, Kenya, Sudan, India and Bangladesh. Chokedee Kaewsang, Deputy Secretary-General of the Board of Investment of Thailand (BOI), voiced the suggestion on September 11, saying that the five nations were found from a latest co-study between BOI, under the Ministry of Industry, and the Fiscal Policy Research Institute Foundation (FPRI), under the Ministry of Finance. Chokedee acknowledged the co-study concluded that there are plenty of rooms for more foreign direct investment (FDI) projects in the five countries and Thai investors should, thus, explore their opportunities there with information support to be provided by BOI. Chokedee cited some countries as examples, indicating that Iran has abundant natural resources, namely oil minerals and marine resources, and interesting FDI promotional measures, but Thai investors should carefully study its regulations and beware of impacts from changing foreign exchange rates and economic sanctions on Tehran by powerful nations. Sudan also has interesting FDI promotional measures, especially allowing foreigners to hold 100 stakes in domestic businesses, while India's Northeast with its abundant natural resources was found the most suitable area for Thai investors. Bangladesh is particularly attractive for its low labor costs and abundant workforces suitable to be a production base and gateway of Thai investors who can export their products to Europe and other major markets, but Thai investors should thoroughly study the South Asian nation's complicated laws before making their decisions. According to the BOI deputy chief, FDI on solar cell projects are particularly welcome in Iran, while FDI projects in the energy sector, as well as the production of machines, electrical appliances, food and pharmaceutical products are specially welcome in Kenya, where the Thai products can be exported to larger European and Gulf markets although its domestic market is rather small. For Sudan, FDI on oil, gold and agricultural projects are particularly welcome, while FDI on processed farm projects, the production of consumer products and retail or department stores are specially welcome in the immense Indian market, particularly in the northeastern region, where the Thai products can also be exported to other neighboring countries.(TNA)