InfoQuest, (April 25) -- At the department's routine meeting on April 18, decisions were made to allow 18 foreign companies to do business in Thailand, and most of them are from Singapore, Japan and China. They will bring a total investment of over 2.762 billion baht, which will create more than 897 jobs for the country and help Thailand directly obtain technology transfer from these countries, according to Mr. Wuti Kraiweeraphan, director-general of the Department of Business Development.
The number of licensed companies in April 2019 increased by 1, up 6 percent, and the amount of investment decreased by 3.78 billion baht, down 58 percent. It was mainly due to that the licensed businesses in March were those requiring high investment, such as debt guarantee service, vehicle performance monitoring and inspection management system service, as well as design, purchasing, installation, testing, repair and maintenance services of the MRT Blue line of Bangkok.
The businesses licensed in April included:
1. Six provide services for subsidiaries/affiliated companies, with investors from Japan, Belgium and China bringing an investment of 1.156 billion baht. The services include R&D of aluminum materials, R&D of airbag gas generators, marketing and promotion of treatment drugs, logistics distribution centers and renting services of related facilities, as well as accounting and debt guarantee services.
2. Three provide services to customers. Investors come from Singapore, England and Principality of Wales, with an investment of 33 million baht. The services range from medical equipment renting, installation of net of wire rope and irrigation system for roof planting, and advertising on signboards at gas stations.
3. One is wholesale business, with investors from Italy and an investment of 9 million baht. It covers the wholesale of chemical feeders and chemical feed controllers.
4. Eight are private contracting businesses, with investors from Japan, China and Hong Kong (China), investing 1.564 billion baht. The services include engineering, procurement and construction (EPC), installation, testing, consulting and maintenance of oil refining equipment; EPC of oil pipeline expansion project; design, installation, and maintenance for the automatic door system of MRTA Yellow Line; procurement, installation, inspection and testing of telecommunication equipment; as well as EPC, installation and equipment testing for butadiene and isobutylene extraction chemical plants.
Mr. Wuti noted that the approval of the above-mentioned businesses will bring about the transfer of relevant technologies, which is expertise that Thais do not have at present or have a low level, such as the technology for preventing and repairing the corrosion of oil pipelines, the R&D and improvement technology for gas generator equipment of automobile airbag, the technology for chemical feed machines and pneumatic systems, the design, installation, repair and maintenance technology for the automatic door system of the rapid transit, the technology of intravascular imaging using Optical Frequency Domain Imaging (OFDI), etc.
In addition, from January to April 2019, a total of 69 foreign investors obtained business licenses, with a total investment of 9.699 billion baht. Compared with the same period last year, the number of approved businesses decreased by 15, down 18 percent, while the amount of investment increased by 4.828 billion baht, up 99 percent. This is mainly because the businesses approved in 2019 are those requiring high investment, such as debt guarantee services; engineering, procurement, installation and operation inspection services of semi-mobile earth or rock drilling equipment for Mae Moh project; design, procurement, installation, inspection, defect repair and maintenance services of the MRT Blue line; design, EPC and installation of crude oil refining units, and inspection services of equipment, tools and machinery.
Source: InfoQuest, by Tanawat Suayaem/ Rachada, translated by Xinhua Silk Road
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