New foreign businesses set up in Thailand up 25% during 1Q13

BANGKOK, April 7 (TNA) - A total of 99 foreign businessmen with combined investment of 3.64 billion baht were allowed to establish businesses in the kingdom during the first quarter this year, up 25 and 126 per cent in terms of the number of firms established and the amount of money to be invested respectively compared to the corresponding period of 2012. In March this year alone, a total of 35 foreign businessmen with combined investment of about 1.66 billion baht were given the green light to set up businesses in Thailand, said Deputy Commerce Minister Nattawut Saikua. The newly established firms employed 762 Thais. Out of the total 35 new enterprises, 17 engaged in the service sector involving in providing loans, building rental and account services. They were foreign businessmen from Japan, Hong Kong, Singapore, the United Arab Emirates, South Korea and France. Ten businesses out of the total set up representative offices in Thailand with combined investment of 30 million baht to report on investment and market conditions in this country to their head offices in overseas. They were firms from Japan, Singapore, South Korea, the Netherlands, Germany and Italy. Six other firms will engage in wholesale business dealing in auto spare parts and software equipment. Countries investing in the business are from Japan, Singapore and the Netherlands. (TNA)