BANGKOK, 8 May 2012 – The Bank of Thailand (BoT) has reported that Thai investors have spent as much as 299 billion baht in overseas investment during the first yearly quarter of 2012.
According to the Central Bank, 2012 still sees Thai business operators and investors continuing pouring money into overseas investment. The first four months of the year saw 81.24 billion baht worth of Thai direct investment overseas, an increase of 28.29 billion baht from the previous quarter’s figure, as a result of the relocation of production bases to countries with lower labour wage and production costs.
Direct investment was the highest in the food production industry (14.88 billion baht), followed by investment in financial and insurance businesses (14.73 billion baht).
At the same time, overseas investment in securities stood at 135.45 billion baht, while overseas cash deposit saw an evident increase to stand at 82.56 billion baht. Taken into account all the above-mentioned figures, the total Thai investment overseas during Q1 of 2012 stood as high as 299 billion baht.
Additionally, the BoT has pointed out that overseas investment in 2012 will likely be higher than that of the previous year, in which overall investment value stood at 488.19 billion baht. The BoT will facilitate overseas investment by adjusting its rules and regulations in compliance with the bank’s attempt to liberalize capital movement. It is believed that this will serve as a motive to convince the Thai business sector to increase its investment overseas.