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FDI to meet target despite uncertainties


May 28, 2008

Industry minister: FDI to meet target despite uncertainties

Thailand’s Industry and Deputy Prime Minister Suwit Khunkitti on Tuesday expressed confidence that the total amount of foreign investment in Thailand would meet the target set for this year, despite mounting political uncertainties.

He revealed investment conditions had improved in the first quarter of this year with total investment in the industrial sector increasing by 9 per cent.

To boost investment, he said, more investment promotion offices would be set up in six countries.

Suwit said he was confident the government would be able to attract foreign investment at a level of at least 600 billion baht (about $18.7 billion) into Thailand this year because state agencies concerned were told to update information to boost investor confidence in investment.

He said that Thailand is seen as an investment magnet since it is the centre of Asean and the Mekong sub-region, adding that the country has already set up made free trade area (FTA) agreements with many countries.

The deputy premier said he had discussed with automakers, who received investment promotions to produce eco-cars, ways to accelerate implementing their investment projects.

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