Foreign businesses to expand investment in Thailand

BANGKOK, September 12 (TNA) - The Board of Investment of Thailand (BOI) says its latest survey has found that a number of foreign business operators have eyed to expand their investment in the Thai economy. BOI Deputy Secretary-General Chokedee Kaewsang acknowledged on Thursday that the latest BOI survey for this year has shown 63 per cent of foreign investors in Thailand planned to maintain their investment in the Thai economy and 34 per cent of them wanted to expand their investment in the country this year and next year. According to the survey, Chokedee revealed, investors from Japan, China and the European Union intended to increase their investment in Thailand more than those from other countries. Chokedee indicated 13.6 per cent of foreign investors who have established their businesses in Thailand planned to expand their businesses overseas, with countries attracting them most including Indonesia, Vietnam, Myanmar and Malaysia respectively. But the BOI deputy chief told reporters that the survey has shown no foreign investors planned to withdraw their businesses from Thailand during the period, thanks to favourable factors in the Thai economy, including its readiness to support industries, along with available raw materials, infrastructure and promotional privileges from the BOI. The BOI deputy chief noted that Thailand's factors facilitating business operations were scored at 3.64 points, seconded only to Singapore, with 3.79 points, in the 10-member Association of Southeast Asian Nations (ASEAN). Compared with countries outside ASEAN, Thailand is inferior to Japan, with 4.40 points, and close to China,with 3.66 points. The BOI survey has also found that most foreign investors in Thailand believe their gross incomes, local incomes, overseas incomes and profits will rise this year and further increase next year. (TNA)