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24 foreign firms approved to operate businesses in Thailand in March

24 foreign firms approved to operate businesses in Thailand in March

Twenty-four foreign firms were allowed to start businesses in Thailand in March, up only 9 per cent from the previous month but a jump of 37 per cent from March 2009, said a senior Commerce Ministry official last week.

Banyong Limprayoonwong, director-general of the Business Development Department, speaking in his capacity as secretary of the Foreign Business Committee, said that combined investment by the 24 foreign firms is about Bt842 million.

Of the total, three - a German, an Austrian and a Taiwanese firm - were given the green light to jointly engage in providing consultant services for construction of the government-sponsored purple route of an integrated mass transit rail system, aimed at easing traffic congestion on the outskirts of Bangkok.

The 23-kilometre purple route runs from Bang Yai in Nonthaburi province to Bang Sue in northern Bangkok’s outskirts. Construction investment is estimated at Bt13 billion.

Banyong said Japanese business men and financiers remained the top foreign investors in Thailand. Most of their businesses are engaged in providing consultants on installing heavy machinery and computers used in the industrial sector and cash management through an internet system. (TNA)