Total foreign investment to exceed 450 billion this year

[rooster59]

Total foreign investment to exceed 450 billion this year



BANGKOK: The government is confident that this year's total foreign investment will exceed 450 billion baht as it is encouraging the Board of Investment (BOI) to come out with more offensive strategies to attract foreign investors.

This was revealed by Dr Somkid Jatusripitak, the deputy prime minister in charge of economy, yesterday.

He said that statistics show a significant three to fourfold increase in investments for this year compared to the same period in 2015.

Current investment figures total 89.9 billion baht compared to only 26 billion baht for the same period last year.

The majority of these investments are from Japan, China, South Korea and Singapore. European investment in the country particularly from Germany also shows strong signs of improving, he said.

For the second quarter, Dr Somkid said foreign investment was expected to increase by 100 billion baht, bringing the total foreign investment for the first half of 2016 to 200 billion baht.

This would mean that at the current rate, 45% of the targeted 450 billion baht for this year has already been met.

Accordingly, he has tasked the Board of Investment (BOI) to go on the offensive to attract even more investment into the country.

As such he was able to state with confidence that he expects total foreign investment for the year will exceed the 450 billion baht set by the BOI.

“It is important for us to look after them until they will not even consider looking outside Thailand. That is why I have asked for a ‘special task-force’ similar to special warfare unit to be set up by the BOI just for this very reason to closely look after their every need,” he added.

Source: http://englishnews.thaipbs.or.th/content/158857

-- Thai PBS 2016-04-09

[Reigntax]

Dr Somkid is having too many wet dreams unless of course he has advanced notice that all the military intent to take the Pattaya plunge or the solo suspicious sky dive in the next few months.

[leeneeds]

"Their every need"

does that include red tape with work visa

and not having to have 3-1 ratio of employment.

pulling down the walls is simple Dr Somkind.

[bangkokfrog]

...encouraging the Board of Investment (BOI) to come out with more offensive strategies...

It seems to me that this government has had no problem at all lately in coming up with "offensive" strategies to achieve their goals.

[EricBerg]

Dealing with the people of BOI is very ok. Dealing later with others from different levels for permits and cooperation is sheer horror. The country's officialdom is rotten to the bone. I think that is well known to the chambers of commerce in western countries. A significant raise of investments as mentioned above? I do not believe it.

[mesterm]

...encouraging the Board of Investment (BOI) to come out with more offensive strategies...

It seems to me that this government has had no problem at all lately in coming up with "offensive" strategies to achieve their goals.

Was laughing at the same thing

[uthaithanirules]

Less than about $US800 million in foreign investment last year for the whole country

Thats chump change compared to some countries the same size

[Jimbo2014]

Why on earth would anyone want to invest in a country where someone of the lowly rank of sub leutenant can enter your house or company at will, take what they wish and detain you without cause. Boggles the mind... errr hello!

[gyrosman]

And still can't keep us safe.

[NeverSure]

^^^ It's all been said above. No way, no how, no chance.

[nong38]

We must remember there is the real world and the perceived one.

The west is saturated and the growth is expected to be in SW asia in the near future from now, whether it is in Thailand is up for grabs, optimisms is great but what the country needs is not words it needs action, can do will do, show us it can be, I want you to be successful but we need to see deeds!

[Mooner]

Thought foreign investment was down 68 % or more this year?

[NeverSure]

We must remember there is the real world and the perceived one.

The west is saturated... -snip-

What? Much of the West is in recession as is Asia to include China. (Shhhhhh... So is Thailand.)

Unemployment is high in many places in the West and people are crying for jobs. Manufacturing has slowed to a crawl in the UK. Without the West to buy Asia's products there is no Asian economy. The West can't just die while Asia prospers - it doesn't work like that. Asia needs a market for its goods.

Asia would be The Next Big Deal^TM ONLY if the West also prospers.

Cheers.

[mogo51]

Dr Somkid is having too many wet dreams unless of course he has advanced notice that all the military intent to take the Pattaya plunge or the solo suspicious sky dive in the next few months.

The government wants more 'offensive strategies' - I would have thought they are being offensive enough. News reports of course, paint a much bleaker story relating to foreign investment in Thailand, stating figures upward of 70

5 DECLINE in foreign investment! Somebody has got it very wrong, I wonder which one it would be?

5

[gandalf12]

Thought foreign investment was down 68 % or more this year?

I read, and I cant remember where but I think it was in NIKKEI ASIAN REVIEW, that foreign investment was down 90%

[keemapoot]

I was at a high level briefing a few months ago done by a senior US commercial embassy officer who told us new FDI was at essentially zero. Certain long-planned investments, such as in the auto industry (Thailand is an important hub for that) are continuing, but as far as new investment...sorry.

Edited April 10, 2016 by keemapoot

[Hawk]

Who are all these investors? Ghosts.

[nong38]

We must remember there is the real world and the perceived one.

The west is saturated... -snip-

What? Much of the West is in recession as is Asia to include China. (Shhhhhh... So is Thailand.)

Unemployment is high in many places in the West and people are crying for jobs. Manufacturing has slowed to a crawl in the UK. Without the West to buy Asia's products there is no Asian economy. The West can't just die while Asia prospers - it doesn't work like that. Asia needs a market for its goods.

Asia would be The Next Big Deal^TM ONLY if the West also prospers.

Cheers.

South East Asia is going to have to buy more of its own products, more of the Wests products. The day when everything went West are coming to an end, the new big market is this region, this is the Market for Asias goods, Asia.

[lostinisaan]

The majority of these investments are from Japan, China, South Korea and Singapore. European investment in the country particularly from Germany also shows strong signs of improving, he said.

Auf Wiedersehen !!!!

​

Edited April 10, 2016 by lostinisaan

[ExpatOilWorker]

Thought foreign investment was down 68 % or more this year?

I read, and I cant remember where but I think it was in NIKKEI ASIAN REVIEW, that foreign investment was down 90%

According to this it was down 78%.

Thailand’s Foreign Investment Drops 78% under Prayuts Military Government

BANGKOK – Thailand’s Foreign investment plummeted last year, official data showed, the latest sign that the kingdom’s once-vibrant economy continues to falter under prolonged military rule.

Total investment applied for by foreign companies between January and November 2015 plunged 78 per cent from a year earlier to 93.8 billion baht (S$3.71 billion), according to figures from Thailand’s state-run Board of Investment (BoI) sent to AFP late Tuesday.

The figures will do little to cheer junta leader Prayut Chan-o-cha, who seized power in a May 2014 coup vowing to restore stability but who has struggled to kickstart the country’s lacklustre economy.

Full story: http://www.chiangrai...government.html

[selftaopath]

Investors ought to be lining up in droves considering how well foreigners and business' are treated in Thailand. :-)

Been there.... done that..... NEVER again.