Thai Govt promotes SMEs to invest more in ASEAN

BANGKOK, June 24 (TNA) - As ASEAN Economic Community (AEC) will be implemented in 2015, Industry Minister M.R. Pongvas Svasti says his ministry has a policy to encourage Thai small - and medium-sized enterprises (SMEs) to invest more in the fellow Association of Southeast Asian Nations (ASEAN) members. M.R. Pongvas said Saturday that the Board of Investment is now conducting a study and preparing measures providing investment incentives to the SMEs which are expected to complete soon, he said. SME businesses, particularly the medium-sized enterprises, will be encouraged to invest and use skills more in ASEAN member countries. Thai investors have in the past decade invested approximately 5 billion U.S. dollars in ASEAN, ranking second in terms of largest investment after investors from Singapore. Out of the nine other ASEAN members, Indonesia seems to be the easiest country for investment for Thai businessmen as it has a total population of over 200 million, has a large market, low wage and workers have sufficient skills. Next is Myanmar. The country has a strong and good relations with Thailand and it is opening its door for foreign investment. The Industry Ministry believes that Thai investors would have gain advantageous if they could enter the country before others. Although basic infrastructures in Myanmar are still insufficient, it has abundant natural resources. Vietnam and Cambodia are attractive countries for investment after Myanmar. Currently, Thai businessmen investing in Vietnam total more than 100 billion baht and their investment in that country is ranked tenth in terms of total investment. The Ministry wishes to see more Thai investment in Vietnam while the Hanoi government wants Thai businessmen to invest in industrial sector which uses skilled workers. Thai businessmen ought to invest in Vietnam in textiles, plastic containers and designing industries because there are still enough rooms for them to grow. (TNA)