Thailand attracts nearly 100 billion THB in foreign investment in 11 months

A total of 612 foreign enterprises with a total investment of over 98.28 billion THB (2 billion USD) were granted licenses to do business in Thailand in 11 months of 2023, according to Oramon Sapthaweetham, Director-General of the Department of Business Development under Thailand’s Ministry of Commerce.
Thailand attracts nearly 100 billion THB in foreign investment in 11 months ảnh 1Illustrative photo (Photo: nationthailand.com)

Bangkok (VNA) – A total of 612 foreign enterprises with a total investment of over 98.28 billion THB (2 billion USD) were granted licenses to do business inThailand in 11 months of 2023,according to Oramon Sapthaweetham, Director-General of the Department ofBusiness Development under Thailand’s Ministry of Commerce.

The businesses provided employment for over 6,000 local people.

Japan was the biggest foreign investor in Thailand with 129businesses valued at 30.1 billion THB (926 million USD). Japanesecompanies invested in various sectors, including the petroleum explorationservice within the surveyed areas in the Gulf of Thailand, manufacturing ofvehicle components, and engineering and technical services such as analysis andprocessing of greenhouse gas data in various business activities.

It was followed by Singapore with 95 businesses with 22.2 billion THB, investing in businesses such as life and propertyinsurance agencies, the hotel industry, and electronic financial services. The US ranked third with 95 businesses, with 4.2 billion THB, focusing on services related to software rightsutilisation, design, development, and system installation of software programmes andapplications used for business operations. Additionally, they provided servicesin the banking and financial sectors, acted as agents for procurement, anddistributed various types of vehicles, including electric cars.

Oramon said that the involvement of foreigners in business inThailand in recent times has contributed to the transfer ofspecialised technological knowledge from the investing countries to local people. They include knowledge related to petroleum drilling, design ofelectrical and electronic systems in railway projects, natural gas pipelinesystems on land, and maintenance and care techniques for components, tools, andequipment used in power plant maintenance./.

VNA

See more

Bank Negara Malaysia headquarters in Kuala Lumpur, Malaysia, July 31, 2019. (Photo: REUTERS)

Malaysia cuts key interest rate for first time in five years

Inflationary pressure in the country is currently being influenced by global uncertainties, including US tariff policy developments and rising geopolitical tensions. These risks could heighten volatility in global financial markets and commodity prices.

Delegates at the conference (Photo: VNA)

East Asian countries support Palestine’s development

Son announced an additional humanitarian aid package worth 350,000 USD for the Palestinian people, which will be channeled through relevant international organisations, aimed at easing hardships faced by the Palestinian people and supporting their reconstruction process.

At the 13th Mekong - RoK Foreign Ministers' Meeting in Kuala Lumpur (Photo: Ministry of Foreign Affairs)

Mekong, RoK chart course for digital-era cooperation

In the new development phase, the Mekong-Korea Cooperation should focus on innovation as the key driving force, placing people at the centre of development while ensuring water-food-energy security and developing cultural industries, said Vietnamese Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son.

India, ASEAN adopt new plan of action for next five years at the ASEAN-India Foreign Ministers' Meet. (Photo: aninews)

India, ASEAN adopt new 5-year action plan at AMM-58

In a post on X, Indian Minister of State for External Affairs Pabitra Margherita who co-chaired the meeting, noted that the ASEAN-India Plan of Action for 2026-2030 aims to expand cooperation further and give impetus to the comprehensive strategic partnership between India and the Association of Southeast Asian Nations (ASEAN).

Malaysian Prime Minister Anwar Ibrahim (sixth from left) poses for a photo with foreign ministers of ASEAN countries, Timor Leste and ASEAN Secretary-General Dr. Kao Kim Hourn at the opening ceremony of the AMM-58 on July 9. (Photo: VNA)

AMM-58, related meetings open in Kuala Lumpur

AMM-58 is the largest gathering of ASEAN foreign ministers and senior diplomats from around the world to discuss pressing global and regional issues, promote cooperation, and advance the security and sustainability agenda in ASEAN.

(Photo: nationthailand.com)

Thailand hopes to conclude US trade talks before new deadline

The Southeast Asian country has offered to cut import duties on most US goods to zero, expand access for US agricultural and industrial products, and increase purchases of energy and Boeing jets. It also pledged to reduce its 46 billion USD trade surplus with the US by 70% within five years.

A resident buys vegetables at a Bangkok supermarket. (Photo: bangkokpost.com)

Thailand’s CPI falls for 3rd straight month in June

Thailand’s consumer price index (CPI) declined for a third consecutive month in June, attributed to lower energy and food prices, though there are no signs of deflation, according to the country’s Commerce Ministry.