Connect with us

South Korean investments in Thailand forecasted at Bt12 billion

South Korean entrepreneurs, both existing and prospective, affirmed their readiness to continue their investments in Thailand with investment privileges applications expected at over Bt12 billion by yearend, according to Industry Minister Pongsawat Svasti.A roadshow by Thailand’s Board of Investment (BOI) in South Korea

Published

on

044c203261808084EB10EB2 D0E2 4906 E9E6B7D7DC405AD1

South Korean entrepreneurs, both existing and prospective, affirmed their readiness to continue their investments in Thailand with investment privileges applications expected at over Bt12 billion by yearend, according to Industry Minister Pongsawat Svasti.

More about Thailand business

The Bank has rightly noted that Thailand’s ability to provide higher value added to its manufacturing sector would improve its ability to compete in
“the increasingly globalized and knowledge- based economy. The resulting higher-paying jobs in these sectors would also strengthen domestic demand in the long run.”

The government in Thailand has implemented several measures to mitigate the short run impact of rising inflation and falling incomes. They include personal income and corporate tax reduction, tax deductions for investment, reduction in property sales transaction fees, subsidies on gasoline, water, electricity, and public buses and train services, direct transfers from the government to administrations at the grassroot level in Thailand, as well as loans by specialized state-owned financial institutions to SMEs and households. However, additional measures to assist affected workers and SMEs in improving their productivity and capacity would enable them to better cope and withstand future shocks in Thailand.

In order to ensure Thailand’s competitiveness in the near future, Thailand needs to improve its productivity and investment climate.Experience from countries that have managed to increase productivity and rise up the value chain such as South Korea and Taiwan have shown that productivity improvements at the national level are achievable with a concerted efforts by the private sector, government, and academia.Firms need to raise their productivity and adaptability to the rapidly changing macroeconomic environment and intensifying competition through greater product and service development, higher efficiency, and better risk management. Government in Thailand should take measures to improve the country’s investment climate such as streamlining the regulatory environment and improving public infrastructure which will help stimulate private investments as they help to reduce operating costs for firms.
.

Go here to read the rest:
South Korean entrepreneurs continuing Thai investments valued at Bt12 billion

Click to comment

Leave a Reply

Economics

Thailand’s Ministry of Finance expects 3.5 to 4.5% economic growth in 2022

For next year, the Ministry of Finance is projecting an economic growth of 3.5-4.5% from effective pandemic control measures, incentives, domestic spending, the export sector, private investment support, global economic recovery, and government expenditures.

Published

on

70b43f2f
The Minister of Finance says Thailand’s economy this year would see only a 1.1-1.2% growth

BANGKOK (NNT) – The Ministry of Finance is now projecting an economic rebound to 4.5% growth next year, with government investments serving as key drivers. The Minister of Finance says the government will focus more on inclusive growth next year, with no sectors left behind.

(more…)
Continue Reading

Business

This is what global tax reforms could mean for Asia’s tech giants

A new set of agreed global tax reforms will change where tech giants and other global giants pay taxes, explain experts from the IMF. Investment hubs such as Singapore and Hong Kong SAR could lose up to 0.15% of GDP as a result.

Published

on

7f7ede46 singapore skyline unsplash crop

Asia’s advanced and emerging market economies have several locally headquartered tech giants and host foreign companies.

(more…)
Continue Reading

Recent

Most Read

Join 14,209 other subscribers