Economics
Investment promotion requests exceeded 750bn baht in 2019
An impressive 59% was in the Eastern Economic Corridor, with China outreaching Japan to become the biggest international investor in Thailand.
BANGKOK (NNT) – Thailand remained an investment destination for international investors last year, as reflected in the overall value of investment promotion requests in 2019, released by the Board of Investment (BOI) today, which exceed a 750 billion baht goal.
An impressive 59% was in the Eastern Economic Corridor, with China outreaching Japan to become the biggest international investor in Thailand.
Deputy Prime Minister Somkid Jatusripitak, today assigned the Board of Investment of Thailand (BOI) to introduce measures to oversee companies receiving investment promotion packages last year to proceed with their investment plans.
1,624 projects worth 756.1 billion baht
The BOI last year received investment promotion requests for 1,624 projects worth 756.1 billion baht, of which 506 projects worth 444.88 billion baht are located in the Eastern Economic Corridor (EEC), accounting for 59 percent of total investment promotion requests.
Some 500 billion baht in Foreign Direct Investment (FDI) was made in 2019, with Chinese investors being the largest group for the first time with 260 billion baht in investment, replacing Japanese investors who committed 63 billion baht in investment.
Mr Somkid said the government is motivated to offer special support to the tourism industry, creative economy industry, and infrastructure investments in the grassroots economy this year.
The government will be introducing measures for Thai companies to make more investments over the next six months to take advantage of the appreciated Thai currency.
The BOI Secretary General Duangjai Asawachintachit said today investment prospects for 2020 will be improved, as the BOI has enhanced its investment promotion benefits which now include 50% corporate income tax discount for five years. The offer is eligible for investment projects proposed to the BOI this year, of actual investment value of no less than 1 billion baht by the end of 2021.
Current investment promotion packages for SMEs are now extended to February 2020, with the addition of a 50% corporate income tax discount for three years for investments in the EEC.
Economics
Covid-19 to cut Asian growth to 2.2%, Thailand -4.8% (ADB)
Restrained largely by slowing exports, Thailand posted paltry growth at 2.4% last year. GDP growth is likely to slow further to –4.8% this year but could pick up to 2.5% in 2021.
Regional economic growth in developing Asia will decline sharply in 2020 due to the effects of the novel coronavirus (COVID-19) pandemic, before recovering in 2021, according to the Asian Development Outlook (ADO) 2020, the Asian Development Bank’s (ADB) annual flagship economic publication.
(more…)Economics
BOI Announces Measures to Facilitate Investors Affected by COVID-19 Situation
The Thailand Board of Investment (BOI) said in a statement that it remains as committed as ever to serve the needs of investors, and announced practical measures to ensure the continuity of service to support companies
The Thailand Board of Investment (BOI) said in a statement that it remains as committed as ever to serve the needs of investors, and announced practical measures to ensure the continuity of service to support companies as economic activity in this critical period is affected by the spread of the coronavirus disease 2019 (COVID-19) and the Emergency Decree put in place by the government to control the situation.
(more…)Economics
EAP Countries Brace for Economic Shock of COVID-19
Growth in the developing EAP region is projected to slow to 2.1 percent in the baseline and to negative 0.5 in the lower case scenario in 2020, from an estimated 5.8 percent in 2019.
The virus that triggered a supply shock in China has now caused a global shock. Developing economies in East Asia and the Pacific (EAP), recovering from trade tensions and struggling with COVID-19, now face the prospect of a global financial shock and recession.
(more…)
What is Forex Trading and how it works?
Why do the investors choose Forex trading? Forex trading is traded by currency pairs. This is because all currency trading...
APRIL International Care opens up TeleHEALTH service to address Coronavirus worries
The TeleHEALTH service means policyholders do not have to leave their home or workplace to “see” a doctor, with a...
Thailand rolls out New Investment Measures to Boost Economy
The new definition of qualified applicants now includes businesses that have not previously received BOI promotion privileges as long as...
Banking6 days agoThailand’s Banking Outlook changed to negative (Moody’s)
Economics1 week agoEAP Countries Brace for Economic Shock of COVID-19
Economics1 week agoThai Cabinet approves Measures to Ease Economic Impact of COVID-19
Asean1 week agoAssessing the economic impacts of COVID-19 on ASEAN countries
