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BOI sets 2018 Investment application target set at 720,000 million bath

The Thailand Board of Investment (BOI) has set an investment application target of 720,000 million baht for 2018

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The Thailand Board of Investment (BOI) has set an investment application target of 720,000 million baht for 2018 after closing the year 2017 with a total investment application value of 641,978 million – 22 per cent increase from 2016, according to Ms. Duangjai Asawachintachit, BOI’s Secretary General.

The new target number was announced after a meeting with Deputy Prime Minister Dr. Somkid Jatusripitak, who shared the government’s investment promotion policy with BOI’s executives. “We want BOI to continue to give more weight to agriculture, food, digital, logistics, education, tourism, and services industries in 2018 because they are vital to economic growth,” Deputy Prime Minister said. “This will cover all value chains related to agricultural activities and tourism services.”

Sounding a similar note, Dr. Kobsak Pootrakul, Minister Attached to the Office of Prime Minister, explained that last year the government completed several tasks aimed at facilitating increased investments, including the amendment of major laws. Infrastructural foundations were also laid out to support EEC, which is designed to be the future economic hub of the region. Investment incentives were revised to become more attractive in response to the global economic recovery trend that began late last year.

Looking ahead into 2018, Mr. Pootrakul said that markets in the United States and Europe were likely to become more active this year. He noted that the Prime Minister’s visit to the US late last year helped strengthen the relations between the two countries and generated new opportunities for bilateral investments and trade.

In line with such recommendations, BOI plans to organize international roadshows to targeted countries and territories such as Japan, China, Hong Kong, South Korea and Europe with the aim of familiarizing investors in those markets with the government’s investment policy.

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AMLO is investigating four Thai banks’ alleged role in suspicious transactions

Thailand’s Anti-Money Laundering Office (AMLO) is verifying a report, by the International Consortium of Investigative Journalists (ICIJ), stating that four Thai banks have been involved in suspicious financial transactions over nearly two decades.

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The ICIJ’s report refers to files leaked from the Financial Crimes Enforcement Network in the US. They allegedly indicate that many commercial banks worldwide turned a blind eye to suspicious transactions between 1999 and 2017.

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Big data to keep Thai workers afloat

Since the coronavirus pandemic hit Thailand earlier this year, businesses have been falling like dominoes. Millions of people have lost their jobs in the country’s worst economic downturn in recent memory.

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Since the coronavirus pandemic hit Thailand earlier this year, businesses have been falling like dominoes. Millions of people have lost their jobs in the country’s worst economic downturn in recent memory. Yet some jobs have survived the pandemic better than others.

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Great Wall Motors (China) to Start Production in Thailand Next Year

Chinese automobile manufacturer Great Wall Motors (GWM) is set to start operations in Thailand next year

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According to Thailand’s Industry Minister Suriya Jungrungreangkit, the company will have an annual production capacity of 80,000 vehicles and will begin producing sports utility vehicles and pickup trucks in 2021.

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October 28 @ 8:00 am - October 30 @ 5:00 pm BMT
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