Thai authorities have given the go-ahead to 44 foreign firms this September to set up operations worth a total of 377 million baht, according to the Business Development Department.

Foreign investors are still interested in setting up manufacturing bases in Thailan, the department said in a report, adding that despite the global slowdown, more investment will flow into Asia, especially in the ASEAN region. Thailand is seen as an investment destination with a safe future, it said.

Setting up the new firms is expected to create at least 219 new jobs for the Thai people. In the first nine months of this year, as many as 282 foreign companies were allowed to set up business in Thailand -a 12 percent increase compared with the same period last year. These companies' initial total investment capital worth 13.97 billion baht rose by 30 percent year on year.

Most of the firms approved this month are related to financial services, consultancy and management for subsidiary companies. The investors are mostly from Hong Kong (China), the United States, Japan, the Netherlands, the United Kingdom, Switzerland, mainland China, the Republic of Korea and France, according to the department.-VNA