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Industry Minister: Korean business views Thailand as investment magnet

SET: Foreign investors remain concerned by political uncertainty

Industry Minister: Korean business views Thailand as investment magnet

Leading South Korean businesspersons view Thailand as an attractive investment spot, and some plan to shift their production bases into the country, according to Industry Minister Chanchai Chairungruang.
Speaking during a road show in the South Korean capital, Chanchai said the Board of Investment opened its 11th overseas office in Seoul to show its intention to persuade South Korean companies with growth potential to invest in Thailand.
Chanchai said he met and discussed with South Korean Knowledge Economy Minister Lee-Youn Ho and top executives of leading Korean companies regarding investment opportunities in South Korea and Thailand.
Most South Korean businesses still see Thailand as an active option for investment, particularly in the electrical appliance and electronics industries.
Some Korean electronic parts producers plan to move their production bases to Thailand soon and are due to apply for BoI investment promotions.
Minister Chanchai said the South Korean minister suggested Thailand accelerate keeping Korean investors informed of the health of its economy and policy on investment promotions.
The Korean minister proposed establishing an industrial estate in Thailand dedicated to South Korean investor needs. Such an undertaking could become an investment magnet among Korean investors.
The minister also affirmed Korean contractors’ readiness to take up construction of mega-projects in Thailand.
In the past two years, Chanchai said, Koreans had invested significantly in Thailand, particularly in the electrical appliances and electronics industry.
Last year, Korean investment groups sought BoI investment promotions for 49 projects with total investment of more than Bt4.3 billion in the electrical appliances and electronics, ceramics, mining, and service industries. (TNA)

SET: Foreign investors remain concerned by political uncertainty

Most foreign investors remain worried about political uncertainties in Thailand because they could disrupt an implementation of various investment projects, according to Stock Exchange of Thailand (SET) president, Patareeya Benjapolchai.
Revealing the result of road shows in Boston, New York and London at a “Thailand: Strength in Global Adversary” function June 24-29, she said the investment promotion had attracted 86 investors from 74 companies with combined investments worldwide of more than Bt6.8 trillion.
Mrs. Patareeya said most investors enquired about the political situation in Thailand as they are concerned whether investment projects would be implemented as scheduled if political uncertainties still persist.
To ease their concern, Deputy Finance Minister Pradit Phataraprasit, who participated in the promotional events, explained that the government’s economic stimulus measures and other schemes had already passed their formal readings in the House of Representatives.
Pradit assured South Korean investors that the economic policy adopted by the Thai government would contribute to the economic growth.
With the application of the government’s economic stimulus package, it is projected that Thailand’s gross domestic product (GDP) will grow 4.1 percent next year, 5.2 percent in 2011, and 5.5 percent in 2012, Patareeya quoted Minister Pradit as saying. (TNA)

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