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Thailand promotes new policies to lure foreign investment

The Thai government on September 10 endorsed a package of measures aimed at attracting more foreign investment, especially to expedite investments from companies seeking to relocate their production plants in the context of the escalating US-China trade tension.
Thailand promotes new policies to lure foreign investment ảnh 1A street in Bangkok capital city of Thailand (Photo: wordpress.com)

Bangkok (VNA) – The Thai government on September 10 endorsed a package ofmeasures aimed at attracting more foreign investment, especially to expediteinvestments from companies seeking to relocate their production plants in the contextof the escalating US-China trade tension.

The new package includes investment acceleration incentives, and policies to easeconstraints faced by foreign investors, especially in target industries.

According to Kobsak Pootrakool, Deputy Secretary-General incharge of political issues of Thai Prime Minister Prayut Chan-o-cha, thepackage will also include measures to support science, technology, engineeringand mathematics (STEM) manpower development.

Kobsak said the new stimulus package will help Thailand be able to compete withother countries in Asia in attracting foreign investment, especially fromhigh-tech enterprises.

Secretary General of the Thailand Board of Investment Duangjai Asawachintachit said the agency would promote foreigninvestment by coordinating with relevant agencies to deploy promotion campaignsin China, Japan, Taiwan (China), and the Republic of Korea.

The same day, the Thai cabinet has approved a 10 billion baht (330 million USD)disbursement from the country’s Competitiveness Fund to support theestablishment of a hi-tech academy in Thailand, which is expected to contributeto training hi-tech human resources for Thailand - one of the important factorsto attract investment from foreign technology businesses./.
VNA
#foreign investment in Thailand#Thai government#Thailand's foreign investment attraction policy#Thailand Board of Investment#Thailand's Competitiveness Fund#updated Vietnam news#Vietnamplus#Vietnam News Agency
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