BANGKOK, 29 February 2012 – Thailand’s Department of Foreign Trade has come out to remind local investors to keep focus on Malaysia, which it considers an attractive investment destination in ASEAN.
Deputy Director-General Pongpun Gearaviriyapun commented on Tuesday that, among all ASEAN neighbors, Malaysia continues to be a very viable choice for investment.
She said that, with Malaysia’s resilience and ability to register a growth rate in 2011, it is believed that this southern neighbor will continue to see its economy expand as much as 5% this year.
According to Ms. Pongpun, Malaysia is expected to enjoy further growth because of continued private investment, the progress in its mega-projects under the government’s Economic Transformation Program (ETP), the country’s stable finance and banking sector as well as its being an international financial center for the Islamic world and its sound inflation rate.
She added that Malaysia’s National Vision Policy (NVP) to boost growth from production efficiency, rigorous R&D, and technological advancement to achieve a knowledge-based economy and society also help make the country more attractive.
However, Ms. Pongpun noted that Malaysia may not be able to avoid the impact from the Euro debt crisis and other internal problems, such as the country’s new minimum wage, all of which could hamper its growth in 2012.
In any case, she suggested Thai investors to look for opportunities to enter Malaysia’s tourism, agricultural and auto parts industry, for they are all the businesses that Thailand is specialized in and keen on.
The Department of Foreign Trade has also prepared all information related to trade and investment in Malaysia for interested investors, who can visit its website www.dft.go.th or call its Hotline 1385 for more details.