Foreign firms lining up to set up bases here
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A significant number of foreign companies plan to secure bases in Thailand this year amid the strong post-flood recovery and the approach of regional integration under the Asean Economic Community (AEC).
A Business Development Department report shows that 154 foreign firms were approved to operate in the Kingdom during the first half of the year, an increase of 39 per cent year-on-year. Combined initial investment also increased by an impressive 40 per cent to Bt4.39 billion.
Ittipol Changlum, deputy director-general of the department, said more foreign companies wanted to invest in Thailand amid strong economic growth, and in anticipation of the benefits of full integration of the AEC by 2015, which aims to promote “seamless” trade.
“Thailand has a strategic geographical location and good infrastructure to facilitate foreign investors. Thailand will continue to draw more new investors under the AEC, amid an influx of investment in Asia due to slowing growth in the Western countries,” he said.
In June alone, another 21 foreign companies received approval to set up businesses in Thailand, a rise of 17 per cent year-on-year.
The total initial investment was Bt377 million, with potential to create at least 111 jobs for Thais.
The most popular businesses for foreign investors here are services, financial agencies and wholesaling. The top foreign investors are Japan, Italy, the United Kingdom, China, Hong Kong and South Korea.
