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35 foreign firms win start-up approval in November
Thirty-five foreign enterprises have been approved to set up new service businesses in Thailand under the Foreign Business Act this month, bringing Bt2.22 billion in initial investment capital, the Business Development Department reported.
Those new firms are expected create at least 681 jobs for Thais.
In the first 11 months, a total of 365 foreign firms have been given approval to do business in Thailand, with combined initial investment capital worth Bt17.82 billion.
Businesses that foreign investors are highly interested in include financial services, leasing and rental, retail and wholesale, partnership of state-owned enterprises, and consultancy.
Securities watchdog offers ‘Start-to-Invest III’ app
The Securities and Exchange Commission has introduced the “Start-to-Invest III” mobile application to help users assess risks and expected returns and allocate investment accordingly.
The previous versions welcomed more than 100,000 downloads.
“Bank deposits seem to be the most common choice,” said SEC Secretary-General Vorapol Socatiyanurak. “However, everyone seeks higher returns, at least to beat inflation.
“The SEC has made an effort to educate the investing public on a variety of financial products that offer a wide range of risks for investors’ alternatives. The ‘Start-to-Invest’ mobile application has been developed as a tool to improve financial literacy.”
Economic growth could reach more than 3% this year
The economy could expand by more than 3 per cent this year but not as much as 3.7 per cent as predicted, Somchai Sajjapongse, director-general of the Fiscal Policy Office, said yesterday.
Exports may show no growth this year, he said.
The office will revise its economic growth forecast next month. The National Economic and Social Development Board also sees no growth in exports.
Somchai said that despite internal and external risks, the economy remains fundamentally sound thanks to low inflation and unemployment.
The economy could show a higher growth rate next year. The tapering in the US, recovery in the eurozone and Japan and the political situation at home are the factors to be closely watched.
Interest rates would remain subdued this year, he added.
