34 foreign businesses granted FBA exemptions
In August, 34 foreign companies received an exemption under the Foreign Business Act to set up operations this month worth at least Bt1.4 million, as Thailand's economy shines amid the global gloom.
“More investment will flow into Asia, particularly Asean countries including Thailand, because of the euro crunch. Thailand will be eyed as one investment destination with a safe future,” Ittipol Changlum, deputy director-general of the Business Development Department, said yesterday.
The department’s report showed that approvals were up by 13 per cent and initial investment up by Bt708 million from August last year. The new operations are expected to create up to 941 jobs for Thais.
The first eight months saw 218 approvals, up 25 per cent, with initial capital of Bt6.57 billion.
Last month, the most popular businesses were service, financial and wholesaling. The service business attracted Bt1.24 billion from mainland China, the British Virgin Islands, Japan, the Netherlands, France, Singapore and Hong Kong.
Eight agencies invested Bt26 million mainly for conducting surveys on manufacturing, distribution, investment, consumer behaviour and demand for goods and services. The agencies were from Japan, Singapore, Hong Kong, the United Kingdom and Switzerland.
Two state-owned enterprises from mainland China and Japan brought Bt144 million in start-up capital.
Two wholesalers from France and Malaysia committed Bt13 million to distribute frozen food and baked goods and electrical-control machinery.
A Singaporean firm is spending Bt13 million on construction equipment for the fuel industry.
