InfoQuest (August 05, 2019) --Mr. Wuttikrai Leeveeraphan, Director of the Department of Business Development and Secretary of the Foreigner Business Council, revealed that the Foreigner Business Council approved 25 foreign investments in Thailand at the meeting of the Foreigner Business Council on July 24, 2019 (Wednesday), up 56 percent from the 16 investments in June 2019. These foreign investors were mainly from Japan, Hong Kong and Germany. The total investment was 3.491 billion baht, increased by 124 percent from 1.558 billion baht in June 2019, creating 415 jobs and directly imparting production technology and know-how to Thai enterprises.
Foreign investments approved in July 2019 were mainly those requiring large financial inputs, including engineering design, procurement, construction, installation, crude oil refining devices and equipment testing services, oil drilling services, silicone production and application technology services.
These approved investments will encourage foreign investors to educate Thai enterprises with relevant technology and know-how for the relevant fields in which they are completely green hand or backward. For example, new energy recovery and electrical system technology, oil drilling control technology, automatic mechanical engineering design technology, silicone quality analysis and development technology as well as quality testing technology reliant on Vernier, Microscope and other instruments.
Foreign investors are allowed to invest and engage in the following operations:
1. Seven investments were for providing related services to affiliated companies/subsidiaries by investors mainly from Japan, Hong Kong and Germany, with a total investment of 2.389 billion baht. The main operations included flour product development and research services, silicone production and application technology services, silicone rubber parts processing and production services, financial consultation and financial planning services, human resources training services, logistics services and production machinery maintenance services.
2. Eleven investments were for providing services to customers by investors mainly from Hong Kong, Japan and Germany, with a total investment of 162 million baht. Major operations included engineering services for manufacturing machinery, metal equipment and tools, installation services for mobile phone online and offline applications, ice cream processing and production services, real estate investment trust services, small credit loan services and advertising services.
3. Five investments were for agency/retail/wholesale business by investors mainly from Sweden, Switzerland and France, with a total investment of 89 million baht. These investments primarily involved in the following sectors and fields, plastics particles and special chemicals market agency, futures trading intermediaries or agency, cutting machines, threaders, strippers, automatic cable testers retail business, surface coating process chemicals, sewage treatment chemicals, grinding paste, metal and plastic surface polishing wax retail business, watches, straps to And jewelry wholesale.
4. Two investments for contracting in private sectors such as oil drilling services, engineering design, procurement, construction, installation, machinery and crude oil refining devices and equipment testing services by investors mainly from Singapore and Hong Kong, with an investment of 851 million baht.
From January to July 2019, 124 foreign investments were approved to invest in Thailand, with a total investment of 15.962 billion baht, down by 23%, or 36 investments, compared with the same period last year. The investment amount increased by 8.464 billion baht, an increase of 113 percent. Such increase was a result of the foreign investments requiring large financial inputs which were approved in 2019, such as engineering, procurement, installation, semi-automatic soil or stone grinder system testing services for Mae Moh Project, design, procurement, supply, installation, testing, defect repair and maintenance services for Bangkok Blue Express Line, oil drilling services, fund management services, debt guarantee service, etc.
Source: InfoQuest, by Nisarat Wichiensri / Rachada, translated by Xinhua Silk Road.
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