FTI fears foreign investors will shift investment elsewhere

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The Federation of Thai Industries (FTI) admits it is concerned foreign investors will relocate their investment base overseas.

Chairman Payungsak Chartsutipol said the concerns came as a result of the political stalemate and the delay in forming the new government, which will affect considerations on investment promotions.

Mr Payungsak spoke of the fact that Japanese investors had asked Thailand to find solutions to political problems within 6-12 months or they would shift their investment base to other countries.

He said FTI is also concerned on the matter. If foreign investors decide to relocate from Thailand, it will be difficult to bring them back. Therefore, he asked those concerned to be responsible for enforcing the law where all parties must be treated equally and national interests come first.

The chairman also stated that there are currently large projects of over Bt200 million, together worth Bt500 billion, seeking Thai Board of Investment (BOI) investment privileges but a new BOI committee has not been set up, for it is not under the caretaker government’s authority.

Mr Payungsak said the delay in the process will make Thailand lose opportunity, as new investors will consider other countries such as Indonesia, Vietnam, Malaysia and the Philippines.