Thailand promotes new policies to lure foreign investment

VNA
The Thai government on September 10 endorsed a package of measures aimed at attracting more foreign investment, especially to expedite investments from companies seeking to relocate their production plants in the context of the escalating US-China trade tension.

A street in Bangkok capital city of Thailand (Photo: wordpress.com)

A street in Bangkok capital city of Thailand (Photo: wordpress.com)

The new package includes investment acceleration incentives, and policies to ease constraints faced by foreign investors, especially in target industries. 

According to Kobsak Pootrakool, Deputy Secretary-General in charge of political issues of Thai Prime Minister Prayut Chan-o-cha, the package will also include measures to support science, technology, engineering and mathematics (STEM) manpower development. 

Kobsak said the new stimulus package will help Thailand be able to compete with other countries in Asia in attracting foreign investment, especially from high-tech enterprises.

Secretary General of the Thailand Board of Investment Duangjai Asawachintachit said the agency would promote foreign investment by coordinating with relevant agencies to deploy promotion campaigns in China, Japan, Taiwan (China), and the Republic of Korea.

The same day, the Thai cabinet has approved a 10 billion baht (US$330 million) disbursement from the country’s Competitiveness Fund to support the establishment of a hi-tech academy in Thailand, which is expected to contribute to training hi-tech human resources for Thailand - one of the important factors to attract investment from foreign technology businesses.

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