Thai private sector expected to invest US$3 billion abroad

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BANGKOK, June 8 – The Thai private sector’s international investment portfolio has risen for the past ten years (2000-2010) and has nearly reached US$3 billion so far this year, and may go even higher by year-end, according to Thailand’s Board of Investment (BoI) Secretary-General Atchaka Sibunruang.

Speaking about the statistical news from the Bank of Thailand (BoT), Ms Atchaka said that Thailand’s overseas investment value increased from less than US$100 million to US$2.7 billion due to the strength of the baht currency.

Investment abroad should aim for cost reductions, searching for materials and new markets such as African or Arab countries.

The main factor to promote Thai investment abroad is financial measures such as low-interest funds and tax measures, said Ms Atchaka.

The BoI plans to propose amendments to laws on tax exemption for profits brought back to the country as well as low-interest funds to the new administration’s Cabinet in July or August.  One consideration on using investment abroad for a corporate body’s double tax reduction is to be made.

Ms Atchaka said at a seminar on Thai investment abroad at Bangkok’s Chulalongkorn University that the government supported the private sector investing in neighbouring countries and other countries potentially worth the investment, while BoI has continuously supported Thai enterpreneurial explorations of foreign investment channels and investing abroad for some years.

The BoI also signed a memorandum of understanding (MoU) with investment promotion agencies in other countries for the exchange of data and information, and solutions when problems occur.

Since the beginning of this year, BoI has continued to organised investment promotion trips for Thai investment abroad in various cities in Myanmar, Vietnam and Cambodia, as well as new markets in Namibia, Uganda, Kenya, Mozambique and Mauritius.

Thailand’s Board of Investment in June-September will bring more Thai entrepreneurs to explore investment channels in new markets Jordan and Ethiopia as well as in new cities of Laos, Myanmar and Cambodia. (MCOT online news)