Dept reports 39% surge in foreign trade registrations in Jan-Oct

The number of businesses registered under the Foreign Business Act (FBA) jumped 39 per cent year on year to 274 companies.

The combined investment also rose by Bt4.67 billion to Bt12.74 |billion.

Ittipol Changlum, deputy director-general of the department, said that with the bright outlook on the Thai economy and stable politics, more foreign investors would undoubtedly come to invest in the Kingdom.

Also, the Asean economic integration will facilitate the growth of many businesses as foreign firms make Thailand the centre for their investment and expansion to other countries in the region, he said.

In October alone, 23 new foreign businesses were approved to start up operations in the Kingdom. Combined investment capital was Bt1.98 billion, expected to create at least 235 jobs for Thais.

The most popular business for foreigners under the FBA is service, accounting for 53 per cent of total registered firms. Those companies are in the financial-service, leasing and rental fields. Other businesses popular with foreign investors are agencies, wholesale, and retail, as well as partnerships for state-owned enterprises or government agencies.