More foreign investors still keen to invest in Thailand

BANGKOK, May 7 (TNA) – More foreign investors were still interested in investing in Thailand in April, according to the Business Development Department (BDD).

Director-General Banyong Limprayoonwong said in his capacity as a member and as secretary of the Committee on Foreigners Business Conducting that the committee meeting on April 28 allowed 26 foreign companies to bring Bt530 million to conduct business in Thailand.

He said businesses in which the committee allowed the foreign firms to run would help boost the energy development in the country and benefit operators in the petroleum industry. It would contribute to the national economic development.

Among the foreign companies are France-based CGG Veritas Services S.A. permitted to conduct a geological survey service business and Twinza Oil Limited granted a petroleum concession by the Energy Ministry.

In addition, the committee allowed ING Funds (Thailand) Co., Limited to continue managing mutual funds and personal funds following a transfer of its shares to Belgium-based ING Insurance International B.V.

With the permission, ING Insurance International is required to bring an additional amount of Bt155 million to invest in Thailand. It would create 108 new jobs for Thai people.

Mr Banyong said in April the number of foreign companies allowed to run businesses in Thailand increased by 8 per cent from the previous month and 24 per cent from the same month the year before.

The investment amount used to conduct the business rose by 26 per cent.

The top new investors are Japanese firms running service businesses and Spanish firms conducting debt guarantee businesses. (TNA)