InfoQuest, (April 05, 2019) -- Mr. Chuwong Dangkhunasombat, director-general of Thai Overseas Investment Promotion Division of the Board of Investment of Thailand, revealed that surveys made over the past five years found that there are still markets in emerging economies worth more attention, for instance, markets in East Africa, Central Asia, and South Asia, where opening-up was newly instituted and enabling laws and agencies were established to attract investment. In Thailand, many industries enjoy advantages in production, technology, personnel, and other aspects, such as agricultural products processing, automobile and parts, energy, digital industry, and tourism services, all urgently needed in emerging market economies. Therefore, Thai investors should take this opportunity to expand new markets, so as to create more value added to their enterprises and even the industries of the whole country.
The government has commissioned BOI to launch relevant activities, seeking to unleash the whole industrial potential of Thailand for greater competitive edges, said Mr. Chuwong. The specific targets of these activities are to share experience, build confidence, and spread knowledge, in an attempt to make Thai investors more confident in exploring opportunities overseas. Currently, Thai Overseas Investment Support Center (TOISC) has offered training course "Shaping overseas Thai investors", with some 500 people of 15 batches having been trained. This year, the program plans to recruit 50 trainees of two batches. The course is designed for Thai enterprises intending to make overseas investment, and eligible ones will be chosen through interview. The course comes in the forms of lecture and field investigation. This year, the investment destinations are Sudan and Uzbekistan. Meanwhile, it also offers investigation tours to neighboring countries, such as Myanmar, Laos and Vietnam.
"In the past, the major risks investors facing were information shortage, and communication and coordination difficulties. Some small companies, despite the availability of technology, marketing plan, and sound financial conditions, are still reluctant to do business in foreign countries, especially in expanding overseas market single-handedly. There are also some companies that face difficulties at the initial stage of business. Therefore, it is important for the government to offer support in multiple aspects. For instance, the government can coordinate with local officials, hosting meeting activities for Thai investors and important government agencies, and selecting competitive local investors to meet with Thai investors, so as to expand business in a professional manner," added Mr. Chuwong.
Source: InfoQuest, by Rachada Kongkhunthian / Wilawan, translated by Xinhua Silk Road
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