Illustrative 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./.
