BoI’s Asean investment framework gets Cabinet okay
The Cabinet on Tuesday gave the go-ahead to the Asean Investment Facilitation Framework (AIFF) proposed by the Board of Investment (BoI).
It also appointed Deputy PM Supattanapong Punmeechaow, who oversees issues related to the economy and investment, as the Thai representative at the Asean Economics Ministers’ meeting on September 8.
The AIFF, meanwhile, aims to help Asean countries recover from the fallout of Covid-19 by focusing on investment and promoting the region as an important supply source.
The framework covers investment facilitation from several aspects, including immigration, workers, capital, business partners as well as support via the latest technology such as electronic documents and digital platforms.
Nonarit Bisonyabut, a senior researcher at Thailand Development Research Institute, said Asean had the potential to become a key global supply source thanks to its large population.
He added that the countries expected to recover quickly are Singapore, Malaysia, Thailand, Indonesia and the Philippines.
He also said that Asean’s many economic pacts, such as the Regional Comprehensive Economic Partnership, the Comprehensive and Progressive Agreement of Trans-Pacific Partnership and the Greater Mekong Subregion Economic Cooperation Program, will help speed up recovery.