Ministry approves 309 foreign firms under FBA in first 9 months
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THE COMMERCE Ministry's Business Development Department has approved the operations of 309 foreign companies under the Foreign Business Act (FBA) during the first nine months of the year.
The projects have an estimated combined worth of Bt11.82 billion.
The number of approvals was 4 per cent lower than for the same period last year, while the total value of initial capital investment dropped by Bt46.25 billion, as many businesses had invested in finance-related businesses such as credit cards last year.
The department said permitting these companies to operate service businesses in Thailand would encourage technology transfer and create jobs for Thais.
Pongpun Gearaviriyapun, director-general of the department, said many foreign investors were highly interested in establishing businesses in Thailand as part of their regional integration policies amid growth in the region.
“More investment will be seen in the remaining months of the year, as well as throughout next year. The government will try to facilitate more investments under the economic stimulation policies in preparation for the forthcoming Asean integration,” she said.
This month alone, 38 companies were approved under the FBA, representing an increase of 31 per cent from September last year, with an initial investment capital of Bt1.49 billion.
The approvals in September would create many jobs for Thais, Pongpun said. Most of these new companies are subsidiaries, agencies of overseas |corporations, or retailers and wholesalers.
The investors include companies from Japan, mainland China, South Korea, Singapore, Malaysia, Switzerland, Spain, the Netherlands, the United States, and Hong Kong.
