Surge in Foreign Investments in Thailand

[snoop1130]

 

BANGKOK (NNT) - Following the government’s policy to open the country, there has been a significant influx of foreign investors establishing businesses in Thailand since September 2023.

 

Karom Phonphonklang, Deputy Government Spokesperson, disclosed that after the government implemented a policy to open the country, Prime Minister Srettha Thavisin has been engaged with foreign investors to instill confidence.

 

This interaction led to substantial investments in Thailand, thereby creating jobs and increasing the country’s revenue. In September 2023, 59 foreign investors initiated businesses in Thailand, with 22 seeking business licenses for foreigners and 37 requesting business certifications for foreigners, totaling an investment of nearly 18.23 billion baht.

 

Most investors hail from Japan, China, and Hong Kong, employing 1,219 Thais. These investments also facilitated the direct transfer of specialized technological knowledge from the investing countries to Thailand. This expertise ranges from industrial gas safety, electric vehicle infrastructure design concepts, agricultural machinery, agricultural equipment, and advanced machining techniques for joint operations.

 

The Deputy Spokesperson further noted from a report assessing permissions for foreign business operations in Thailand under the Foreign Business Act of 1999, that in the first 9 months of 2023, 493 foreign investors established businesses. This breaks down to 166 obtaining business licenses for foreigners and 327 attaining business certifications for foreigners. The cumulative investment value stood at about 84 billion baht, resulting in the employment of more than 5,700 Thai nationals.

 

By Na-ark Rojanasuvan

 

Full story: NNT 2023-10-30

 

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[hotchilli]

13 hours ago, snoop1130 said:

Most investors hail from Japan, China, and Hong Kong, employing 1,219 Thais. These investments also facilitated the direct transfer of specialized technological knowledge from the investing countries to Thailand. This expertise ranges from industrial gas safety, electric vehicle infrastructure design concepts, agricultural machinery, agricultural equipment, and advanced machining techniques for joint operations.

Invest with us, we steal your technological expertise and later cancel your visa.

[RichardColeman]

13 hours ago, snoop1130 said:

Most investors hail from Japan, China, and Hong Kong, employing 1,219 Thais.

Think Thailand is just being exploited for cheap labour rather than any intelligence and professionalism in the labour market

[daveAustin]

Chucking the money over before it gets double-taxed! 

[Karma80]

47 minutes ago, RichardColeman said:

Think Thailand is just being exploited for cheap labour rather than any intelligence and professionalism in the labour market

 

Exactly. The same story as China, was cheap, now not. Once the costs start to increase, it's off to Vietnam!

[Cake Monster]

1 hour ago, RichardColeman said:

Think Thailand is just being exploited for cheap labour rather than any intelligence and professionalism in the labour market

And of course there is the small issue of trying to dodge Taxes imposed upon their products by Foreign Countries

[sscc]

1 hour ago, Karma80 said:

 

Exactly. The same story as China, was cheap, now not. Once the costs start to increase, it's off to Vietnam!

 

Vietnam economy was doing very well in 2022 -- over 7% GDP growth in 2022. 

Vietnam economy and export had not been doing so well in 2023 first 9 months on year on year basis,  less than half of 2022 data.  Not so sure of reasoning behind.  

 

Thailand export and economy are generally OK.  

[Purdey]

I feel sure that more foreigners would invest in businesses here if they were not forced to give 51% ownership to a Thai they didn't know very well.