Joint Foreign Chambers of Commerce in Thailand JFCCT chairman Nandor von de Luehe said its members will not shift their investment bases to other countries because they remain confident of Thailand’s growth potential, Industry Minister Chaiwuti Bannawat said.
Speaking after meting JFCCT representatives, he said the JFCCT chairman cautioned the Thai government not to be complacent regarding the continued growth of the economic and industrial sectorsWhat foreign investors are concerned about now is the lack of stability of the Thai currency.
They want the government to oversee the baht to boost its stability as much as possible, he said.Mr Chaiwut said the Board of Investment BoI will consider ways to help entrepreneurs deal with the bahts volatility when it meets with Prime Minister Abhisit Vejjajiva and will consider improved privileges to be granted to small- and medium-size enterprises SMEs.
It was the first time he had an opportunity to meet and discuss with BoI and JFCCT after assuming his ministerial post, he said.More than 30 investors joined the discussion focusing on ways to cope with obstacles to business performance of foreign investors in Thailand such as difficulties in applications for temporary visas for tourism and investment, telecommunication problems, and unclear customers and tax systems.
Thai Finance Minister Korn Chatikavanij has said that he did not expect the 600 billion U.S. dollars injection into the U.S. economy to have any immediate effect on the Thai currency and its capital market.
Korn said the Thai government’s existing measures remained effective enough to control the rising baht as the US Federal Reserve’s announcement was in line with the government’s earlier estimate of 500-700 billion dollars, according to local media reports.
The US Federal Reserve announced Thursday that it will buy an additional 600 billion dollars of treasuries through June next year, which could further depreciate the greenback.
Central banks from China to India and Australia have raised interest rates to curb inflationary pressures at a time when Japan and the U.S. are adding monetary stimulus to boost economic growth.
Meanwhile, Thailand’s central bank governor Prasarn Trairatvorakul has confirmed that he has discussed with other central banks in the region, which are ready to impose joint measures to curb further speculative money in-flow.
Asian cities most threatened by environmental risk
According to the first instalment of Cities@Risk series, which ranks the world’s 576 largest urban centres on their exposure to a range of environmental and climate-related threats, 99 of the world’s 100 riskiest cities are in Asia, including 37 in China and 43 in India.
Thailand Q1 Investment Applications Soar 80% as FDI More Than Double says BOI
The top three source countries of FDI applications during the first quarter were South Korea, China, and Singapore, with similar levels of investment. Korean investment soared due to a large-scale joint venture in the medical sector, Ms Duangjai said.
The Thailand Board of Investment (BOI) said today that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht (USD3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled.(more…)
Subscribe via Email
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...
3 ways Asia can recover from the COVID-19 pandemic faster
Countries in the East Asia and Pacific region will benefit from cooperation in three major areas: vaccine deployment, reviving sectors...
Thailand’s Vaccine Strategy: What went wrong?
Questions are being asked, and not answered, over the decision to rely almost entirely on Siam Bioscience, a local, palace-owned...