Foreign investors remain confident in Thailand despite political standoff

BANGKOK, Mar 18 (TNA) – Foreign investors are still confident about investing in Thailand although the political standoff continues to intensify, according to Board of Investment (BoI) Secretary-GeneralAtchaka Sibunruang.

She said most foreign investors understood the political movement in Thailand and believed the ongoing political standoff would not drag on and the situation would return to normal soon.

A survey on investors’ opinions found that no matter how much under duress the Thai economy would be, foreign investors continue to realise Thailand’s growth potential.

She said applications for BoI investment promotions last year reached Bt720 billion, which was Bt400 billion higher than expected.

“The overall Thai economy has begun recovering as can be witnessed by the increased exports since the 4th quarter of last year. This year, we are still confident applications for BoI promotional privileges will not be lower than Bt500 billion.

“BoI plans to conduct more than 150 activities this year to boost investment overseas. Next week, I will take a team of officials and private-sector representatives to a motor show in Indonesia to ask businesspeople there whether they are interested in buying auto parts from Thailand,” she said.

Mrs Atchaka revealed Indian investors planned to make a feasibility study for investment in car tire production in March.

However, they postponed the project because they wanted to monitor the political standoff for a while.

Once the situation eases, she believed, the Indian investors will resume the investment project. (TNA)