Thai Deputy Prime Minister Somkid Jatusripitak (Photo: AFP/VNA)
Bangkok (NNT/VNA) - Thailand’s investment drivewill focus on three aspects of the country’s agenda – national competitiveness,a reduction in income disparity, and sustainability, Deputy Prime MinisterSomkid Jatusripitak has said.
Speaking after the annual meeting of Thailand's Board ofInvestment (BOI), with the heads of the 14 overseas offices, the Deputy PrimeMinister said that investments are a significant part of the national agenda.
“In recent years, our investment promotion activities tendedto attract investment in targeted types of business activities,” Somkid said.“We must not forget that investments are crucial to support a nationaltransformation.
“From now on, we have to make sure that investment promotionactivities can also effectively address the three major national issues -increasing national competitiveness, reducing income and social disparity, andpromoting sustainability.”
He cited the development of the bioeconomy as an example. Inpromoting investment in the bioeconomy, value will be added to the country'sbackbone industries. While a bioeconomy would increase nationalcompetitiveness, it also generates incomes for people and that directlycontributes to the reduction of income disparity and points to a long-termsustainable outcome. In terms of the environment and resources, the bioeconomy alsofocuses on environmentally friendly business activities, which contribute toenvironmental sustainability.
Somkid also advised the BOI to promote an investmentecosystem. He said that to attract entrepreneurial ventures, the country shouldnot only provide investment incentives but also assist other activities thatsupport the development of startups. Education, people training, infrastructureand a supply chain in related industries should all be developed to help ensuresuccess for investors.
The BOI, which regularly reviews and adjusts its policy anddirection to address changing economic and business trends and the nationalagenda, also released its foreign investors' confidence survey for this year.
The board's processes have contributed to a significantimprovement in investors’ satisfaction and confidence.
The survey showed that investors’ confidence reached thehighest level in five years, with 98.5 percent of the respondents confirmingthat they would continue to invest in Thailand. Out of the 600 companies thatresponded to the survey, 33 percent said they planned to expand investment,while 65.5 percent said their investments in Thailand would continue.
The top three matters that boosted their confidencein continuing and expanding their investments in Thailand were given as: theavailability of raw materials and parts (54.7 percent), sufficient suppliers(50.8 percent) and attractive investment incentives (44.5 percent).
“From this year’s survey, it was clear that the ecosystem andsupporting industries play an important part in investors’ confidence,” said DuangjaiAsawachintachit, Secretary-General of the BOI. “Having extensive resources,parts, raw materials and suppliers is key to this success,” she noted.
“Realising this, the government and the BOI have beenpromoting local supporting industries throughout the years. New investmentpromotion incentives have also been customised and offered in response to rapidtechnology development and more intense business competition,” shesaid.-NNT/VNA
Speaking after the annual meeting of Thailand's Board ofInvestment (BOI), with the heads of the 14 overseas offices, the Deputy PrimeMinister said that investments are a significant part of the national agenda.
“In recent years, our investment promotion activities tendedto attract investment in targeted types of business activities,” Somkid said.“We must not forget that investments are crucial to support a nationaltransformation.
“From now on, we have to make sure that investment promotionactivities can also effectively address the three major national issues -increasing national competitiveness, reducing income and social disparity, andpromoting sustainability.”
He cited the development of the bioeconomy as an example. Inpromoting investment in the bioeconomy, value will be added to the country'sbackbone industries. While a bioeconomy would increase nationalcompetitiveness, it also generates incomes for people and that directlycontributes to the reduction of income disparity and points to a long-termsustainable outcome. In terms of the environment and resources, the bioeconomy alsofocuses on environmentally friendly business activities, which contribute toenvironmental sustainability.
Somkid also advised the BOI to promote an investmentecosystem. He said that to attract entrepreneurial ventures, the country shouldnot only provide investment incentives but also assist other activities thatsupport the development of startups. Education, people training, infrastructureand a supply chain in related industries should all be developed to help ensuresuccess for investors.
The BOI, which regularly reviews and adjusts its policy anddirection to address changing economic and business trends and the nationalagenda, also released its foreign investors' confidence survey for this year.
The board's processes have contributed to a significantimprovement in investors’ satisfaction and confidence.
The survey showed that investors’ confidence reached thehighest level in five years, with 98.5 percent of the respondents confirmingthat they would continue to invest in Thailand. Out of the 600 companies thatresponded to the survey, 33 percent said they planned to expand investment,while 65.5 percent said their investments in Thailand would continue.
The top three matters that boosted their confidencein continuing and expanding their investments in Thailand were given as: theavailability of raw materials and parts (54.7 percent), sufficient suppliers(50.8 percent) and attractive investment incentives (44.5 percent).
“From this year’s survey, it was clear that the ecosystem andsupporting industries play an important part in investors’ confidence,” said DuangjaiAsawachintachit, Secretary-General of the BOI. “Having extensive resources,parts, raw materials and suppliers is key to this success,” she noted.
“Realising this, the government and the BOI have beenpromoting local supporting industries throughout the years. New investmentpromotion incentives have also been customised and offered in response to rapidtechnology development and more intense business competition,” shesaid.-NNT/VNA
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