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BOI admits a 10% decline in Foreign Investment

Thailand’s Board of Investment (BoI) admits that foreign investment is declining : foreign investment in the first 10 months of this year dropped by 10 per cent compared with the same period last year

Boris Sullivan

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Thailand’s Board of Investment (BoI) admits that foreign investment is declining : foreign investment in the first 10 months of this year dropped by 10 per cent compared with the same period last year

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Chokedee Kaewsang, BoI deputy secretary-general said foreign investment in the first 10 months of this year dropped by 10 per cent compared with the same period last year because Thailand could not support the investment projects that turned to use higher technologies.

He estimated the overall value of projects seeking BoI promotional privileges at Bt700 billion this year, lower than the corresponding figure last year.

The projects center on the automotive, electrical, electronic and machinery industries.

Kosit Panpiemras, Bangkok Bank executive chairman, said the government’s economic stimulation efforts through monetary and fiscal policies would not bear fruit if it continued to implement populist policies in the way that prevents household debt from falling.

He suggested that the government cooperate with the private sector to catch up with the changes of global markets.

Thai exports are declining despite the global economic expansion.

Mr Kosit urged the government to closely supervise production. Thailand’s economic growth rate is predicted at 3-4 per cent next year due to its low base this year, he said, noting that previous populist policies and household debt continue to heavily affect the Thai economy and prevent its growth from reflecting the real potential of the country.

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Thailand Approves Latest Economic Relief Package for Businesses

Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will go towards an ‘asset warehousing’ program whereby debtors can use their assets as loan collateral but will have the right to redeem their assets under a specific time frame.

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On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350 billion baht (US$11.2 billion), to support businesses in the country.

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Thailand BOI approves Biotech Projects Worth 2.4 Bln Baht ($78 million)

The biotechnology sector is part of the so-called BCG model (Bio, Circular and Green economy) which the Thai government has set as a priority to lead the post-Covid 19 recovery.

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The Thailand Board of Investment (BOI) said today it has recently approved new projects in the field of advanced biotechnology, worth a combined 2.4 billion baht (around USD78 million) in investment, reflecting the increased interest of local and foreign investors in the country’s biotech sector.

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Asia-Pacific sees 3.9% growth in deal activity in February 2021

Boris Sullivan

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Chair’s Statement on the Informal ASEAN Ministerial Meeting (IAMM)

The Asia-Pacific (APAC) region saw a 3.9% month-on-month growth in deal activity (mergers & acquisitions, private equity and venture financing deals) from 1,126 deals to 1,170 deals in February 2021, according to GlobalData, a leading data and analytics company.

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