PM pleased with level of foreign investment this year
Prime Minister Prayut Chan-o-cha is satisfied with the improvement in foreign investments this year, government spokesperson Thanakorn Wangboonkongchana said on Wednesday.
Thanakorn cited a Department of Business Development report, saying that 213 foreigners, who were given permission to operate businesses in Thailand, invested more than THB11.55 billion from January to October this year, resulting in employment for over 5,000 Thais.
The top three foreign investors in Thailand were Japan (82), Singapore (33) and Hong Kong (20), he said.
“Most of the businesses that have been allowed to operate in Thailand are related to several government projects, such as the high-speed rail, smart warehouse and distribution centres and digital insurance platforms,” he said.
Thanakorn also cited a Board of Investment report, saying that business operators requested investment support for 564 projects related to the Bio-Circular-Green (BCG) economy from January to September, up 74 per cent year on year.
The investment value in the first nine months totalled THB128.37, higher than last year's THB93.88 billion, he said.
“From 2015 to September this year, there were 2,829 projects related to the BCG economy worth THB677.15 billion,” Thanakorn said.
“The top three projects with high investment value were renewable electricity generation (THB289 billion), modern food and beverage manufacturing and preservation (THB94.22 billion) and eco-friendly chemical or polymer manufacturing (THB40.99 billion).”
Thanakorn expected more foreign investors to operate businesses in Thailand in the latter part of the year as the government had launched measures to facilitate investment and stimulate the economy.
“The BCG model will enable Thailand to develop an eco-friendly economy in line with the United Nation’s Sustainable Development Goals,” he said.
“We expect that in the next five years the value of the Thai BCG industry will account for 25 per cent of gross domestic product, resulting in balanced and sustainable economic growth,” Thanakorn added.
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