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Thailand’s BOI opens new investment promotion office in Mumbai

Thailand will promote investment opportunities among Indian investors through new investment promotion services in Mumbai beginning on June 26th, 2013

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Industry Minister, Mr.  Prasert Boonchaisuk will join the BOI’s road Show to India from 25-27 June 2013. During his stay there, he will preside over different activities hosted by the Board of Investment (BOI), including the establishment of an “India-Thailand Business Forum” aimed at enhancing cooperation between the Thai and Indian private sectors.

On 26 June 2013 the BOI will host a seminar on the topic, “Thailand-India Investment Opportunities” in cooperation with FICCI to provide an overview of investment opportunities in both countries presented by the BOI Secretary General.

BOI Press 1-01

Thailand will promote investment opportunities among Indian investors through new investment promotion services in Mumbai beginning on June 26th, 2013

Participants in the seminar will be representatives from both countries, including the vice chairman of the Federation of Thai Industries, the chairman of the Thailand-India Business Council, chair, FICCI-Maharashtra State Council, and the chair, FICCI-Forum on Economic & Business Policy.

Moreover, government organizations and private sector representatives from the two countries plan to discuss the establishment of an India-Thailand Business Forum to promote and facilitate bilateral investment.

India has a huge market with its vast population of 1,200 million people.

BOI Secretary General Mr. Udom Wongviwatchai said that India is one of Thailand’s target countries for investment promotion under the BOI’s new policy. India’s economy is the world’s 10th biggest and Asia’s 3rd biggest after China and Japan.

BOI investment promotion services in Mumbai will not only convince investors to invest in Thailand, but also encourage potential Thai investors to do business in India. India has various industries that match Thailand’s investment promotion goals, such as auto parts, software, chemicals, and pharmaceuticals. In the meantime, India is ready to support investments from Thailand, especially in the agriculture and agro industries, vehicle parts, electrical appliances and electronics, construction, energy business, real estate and hotels.

“We’re confident that the beginning of services here will encourage more investments from India to Thailand and encourage potential Thai investors to expand their businesses to support the huge demands of the Indian market. It will also provide a chance for Thai investors to expand their businesses into countries that are neighbors of our two countries,” said Mr. Udom.

From 2007 through 2012, 114 projects by Indian investors were approved and received promotional incentives from the Thailand Board of Investment with a total investment value of 30,203 million baht. Large-scale projects are Aditya Birla Chemicals (Thailand) Ltd., a rayon manufacturer; Apollo Tyres Ltd. (Thailand) that manufactures radial tires; the N.T.S. Steel Group Plc., that manufactures raw steel products and semi-finished and finished steel products; Polyplex Ltd., that produces pet resin and polyester film; Indorama Holdings Ltd., that manufactures wool yarns; Bharat Hotels Ltd; Tata Motor Ltd., which manufactures trucks, etc.

Large-scale Thai companies that operate businesses in India include ITD Cementation India Ltd.; Charoen Pokphand Foods Plc; the Siam Cement Group (SCG); Pranda Jewelry Plc.; Thai Summit Auto Part Industry Co., Ltd.; the Pruksa Group, etc.

After initiating investment promotion services in Mumbai, the BOI will have 14 overseas investment promotion services in 10 countries, including Beijing, Shanghai, Guangzhou, Los Angeles, New York, Osaka, Tokyo, Seoul, Paris, Sydney, Stockholm, Frankfurt, and Taipei.

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