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
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
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
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.
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)