Foreign firms still interested in investing here, govt says, countering opposition statement

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https://www.nationthailand.com/business/40016186

Foreign countries are still interested in investing in Thailand, government deputy spokeswoman Ratchada Thanadirek said on Wednesday.

Foreign firms still interested in investing here, govt says, countering opposition statement

Her statement came after the opposition rejected the fiscal 2023 budget bill on Tuesday, claiming that factories had relocated as they could not trust a government that was the result of the coup d’etat and succession.

Ratchada said foreign investors continued to trust Thailand even in the present Covid-19 situation. She backed up her statement with statistics, saying 196 foreign investors applied for business licences in the first four months of 2022, resulting in investments of THB36 billion.

Most businesses are part of the new S-curve industries in the fields of application platforms, petroleum drilling, examining and repairing medical equipment, charging stations, automobile manufacturers and assemblers, Ratchada explained.

According to her, as many as 28,083 newly listed companies have been established with an authorised capital of THB245.49 billion.

Ratchada said these numbers reflected the confidence of Thai and foreign investors in the country’s economic recovery and long-term growth opportunities from economic stimulus measures.

She revealed the government had requested THB396 billion to increase the country’s competitive capability and detailed some of the projects the money would be used for:

  • THB80 billion to help the country become a leader in agricultural and high-value processed agricultural products;
  • THB118 billion to develop Thailand as a gateway for trade, investment, and logistics;
  • THB11 billion for the Eastern Economic Corridor;
  • THB7.27 billion to develop tourist destinations that focus on quality and sustainability.

Ratchada hoped MPs would approve the fiscal 2023 budget bill “to drive the country forward at a significant moment”.

Published : June 01, 2022

By : THE NATION

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