Leading U.S. firms have expressed interest to expand their investment in Thailand as the government is stepping up efforts to fight corruption and bolster the economy, Government spokesman Yongyuth Mayalarp said.
The businessmen led by chairperson of the U.S.-ASEAN Business Council called on Prime Minister Prayut Chan-ocha at Government House Monday.
The spokesman said General Prayut informed the U.S. businessmen that his government is implementing the democracy-restoration roadmap and undertaking national reform in 11 major areas with participation of people from all walks of life.
The prime minister also said his government attaches importance to bolstering national economy, focusing on infrastructure investment.
He said the prime minister also told the U.S. businessmen that his government has instructed the Board of Investment of Thailand (BoI) to revise regulations to support foreign firms in Thailand and grant them more privileges.
The businessmen were also informed that the government plans to open more special economic zones along the border, he said.
According to Yongyuth, the U.S. businessmen are keen to invest in Thailand’s energy, basic infrastructure, information technology and medical tourism industries.
With the impending establishment of the ASEAN Economic Community (AEC) in late 2015, US companies are focusing on the prospects that will emerge from regional economic integration, although most survey respondents hold the position that the goals of the AEC will be reached by 2020 or later.
Nonetheless, three quarters of the respondents in Thailand indicated that the amount of company trade and investment in ASEAN increased in the past two years
and even more expect this trend to continue in the next five years. Overall, 78% of Thai-based American business executives regard a single ASEAN market as important to helping the bottom lines of their firms in the region.
Clear skies over Asia’s new foreign investment landscape?
Compounding the fallout of the US–China trade war, the global pandemic and recession have caused considerable speculation on the future of foreign investment and global value chains (GVCs). But though there is likely to be some permanent change, it will probably not be as great as politicians expect.(more…)
How higher US bond yields will impact Asia Pacific bonds
As financial markets started pricing in stronger US economic growth and inflation because of Joe Biden’s stimulus plan, US bond yields have risen, causing ripple effects across the world, including in APAC.
Following the rise in US bond yields in response to Joe Biden’s stimulus plan and amid higher inflation in some economies, Asia Pacific bond yields have risen significantly as well, especially in Southeast Asia, India, Hong Kong, and Australia. However, Northeast Asian bond yields have risen little.(more…)
Subscribe via Email
Thai baht becoming the region’s worst-hit currency in COVID pandemic
According to data from its tourism ministry as well as the World Bank, Thailand had only a little over 34,000...
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...