404 foreign firms approved
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The Business Development Department has given approval to 404 foreign firms to set up operations in Thailand. They plan combined investment worth more than Bt16 billion, to create at least 9,000 jobs.
In December alone, 34 foreign businesses were approved under the Foreign Business Act to bring initial investment of Bt2.6 billion to the country.
Pongpun Gearaviriyapun, director-general of the department, said yesterday that allowing the foreign companies to conduct service businesses in Thailand would encourage technology transfers and create jobs for Thais.
Foreign investors were keen on setting up in Thailand as they see stronger economic growth as the country becomes the hub of Asean integration.
Most of the firms approved this month are related to trading, consulting, agency, retail and wholesale businesses, she said.
