BANGKOK, 3 July 2019(NNT) – Investor confidence and clear policies on industrial development, especially in the Eastern Economic Corridor (EEC) area have increased the value of investment by entrepreneurs requesting new business licenses, and expanding their factories’ capacity by 15.85 percent.
It is expected that the investment value of the new business expansion will be as high as 400 billion baht this year.
Mr. Thongchai Chawalitphichet, Director-General of the Department of Industrial Works (DIW), has reported that the first six months of this year saw 2,064 factories begin operations and expand their operations, adding over 195 billion baht’s worth of commercial activities, an increase of 15.85 percent compared on the same period last year.
Despite the Chinese-US trade war, the investment outlook in the second half of the year is expected to increase by 20 percent or 200 billion baht.
It is expected that the investment value will total 430 billion baht this year.
The first five industries with the highest value of investment include the petroleum products group, followed by food, electrical appliances, car parts and plastics.
However, it is worth noting that while 92,262 workers are employed in business expansions, that’s a decrease of 5.45 percent, partly because entrepreneurs have developed their workers’ full potential and are turning to the greater use of technology to replace workers in keeping with Thailand’s 4.0 policy.
In the second half of the year, it is expected that the number of negative economic factors will be reduced.
Thailand’s FDI applications up 69% in the first nine months of 2019
The total value of FDI applications received by the BOI in the nine months to September increased 69% from the year earlier period, to a total value of 203.37 billion baht, according to the latest data from the BOI
Thailand continued to attract rising foreign direct investment (FDI) in the first nine months of 2019, with increased number of investment project applications according to public agency Thailand Board of Investment (BOI).(more…)
Thai Labour minister calls meeting after U.S. GSP cut
The Minister of Labour has called an urgent meeting to address the labour concerns cited by the U.S. as a factor in the decision to revoke trade preferences.
BANGKOK (NNT) – The decision by the U.S. to suspend Generalized System of Preferences (GSP) treatment to Thailand, requiring all Thai exports to the U.S. to be subject to duties, has raised confusion among many sectors in Thailand.(more…)
Thailand edges up 6 spots in World Bank’s Ease of Doing Business 2020
While many economies in the East Asia and the Pacific region make doing business relatively easy, the pace of reforms has slowed from previous years.
Thailand among top five countries for salary hikes
Thailand is among the top five economies in the world to see real salary increases and is likely to see...
Thailand Ecommerce Market: Shooting For Success
At present, the Thai ecommerce market is valued at USD 3.5 billion. According to a Google Temasek study, Thailand’s e-commerce...
Aspire Set to Become First SME Neobank in Southeast Asia with US$32.5 Million Raise
The recent financing has been led by Mass-Mutual Ventures Southeast Asia with participation from Silicon Valley’s Arc Labs and existing...