Foreigners keen on investing in Thai financial instruments

BANGKOK, October 9 (TNA) - Foreign business operators are interested in investing in financial instruments to be issued by the Thai government to sponsor the country's new infrastructure development projects. Bank of Thailand (BOT) Spokesman Chirathep Senivongs Na Ayudhaya told journalists of the information on Thursday, noting that foreign investors are also keen on investing in financial instruments to be issued by the Thai private sector in foreign currencies. The spokesman said some 30 foreign investors expressed the interest in Thai financial instruments during their meeting with Thai Finance Minister Sommai Pasi and BOT Governor Prasarn Trairatvorakul in New York recently. At the talks, the spokesman stated, the BOT governor also assured the foreign investors of the Thai government’s sufficient foreign exchange reserves and well-prepared measures to oversee capital inflows and outflows, with Thailand's floating foreign exchange system to be a main mechanism to help control the capital transfers internationally. On high household debts in Thailand, the BOT chief explained to the foreign investors that in the short term, local financial institutes have normally helped monitor the problem closely and the crux should be solved in the middle term through financial literacy and increased opportunities for local households to earn more income. According to the spokesman, the Thai authorities and the foreign investors agreed that the Thai government’s policy on supporting the business sector through pragmatic and market friendly is very important. Besides, the foreign investors envisaged that Thailand remains an interesting investment place among emerging markets, thanks to the large size of the Thai economy and also being a member country of the Association of Southeast Asian Nations (ASEAN). The spokesman revealed that the Thai authorities and the foreign investors also agreed that an economic reform plus massive investment in infrastructure projects, as well as attempts on reducing income disparity and on boosting national competitiveness by the interim Thai government should also be significant factors in attracting more foreign investment into Thailand in the middle term. (TNA)