Japanese investors continued seeing Thailand as the top investment destination in the region, according to Industry Minister Chaiwuti Bannawat.
Industry Minister Chaiwuti Bannawat said the ongoing political rallies are unlikely to undermine foreign investor confidence in the overall economy, but it could impact new investors, who do not yet understand the situation in Thailand.
The minister said the Japanese investors continued considering Thailand as the top destination to which they want to shift their investment base.
He predicted that the number of Japanese investors will be on the rise, mainly SMEs investing in major industries and those in non-autmotive sector industries.
Mr Chaiwuti said new investment projects set to take place in Thailand are mainly environmentally friendly schemes such as clean energy production and bio-technology.
Thailand has been recognised as the investment hub in the region, so he is confident that the value of projects seeking investment promotions this year would be higher than Bt400 billion, the minister said. (MCOT online news)
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Recent crashes in Thailand’s GDP and export markets, plus the drop in tourism fuelled by recession and last year’s domestic political turmoil, have dispelled illusions that the country is insulated from the effects of the global downturn. Numerous indicators of economic health are hitting the red, foreign investment is evaporating, unemployment is surging, and credit lines are freezing up. Thailand’s government still says there is a possibility of positive growth this year, despite facing a rougher ride than in the 1997 Asian financial crisis as conditions infest the real economy on a broader scale.
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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…)
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