Thai businesses urged to invest in neighbouring countries

BANGKOK, Dec 19 (TNA) -- The Thai National Shippers' Council (TNSC) and the Thai Chamber of Commerce are encouraging Thai business owners to quickly decide to invest in ASEAN countries, while suggesting to the government to implement new measures to give support to new entrepreneurs. TNSC President Nopporn Thepsithar stressed during his speaking at a seminar on ASEAN and Business Opportunities for Thailand that the window for Thai business owners to invest in neighbouring countries could only be opened in the next 1-2 years, as the Chinese investors have already penetrated the market, prompting the opportunities for Thai investors to decrease. He pointed out that he believes China is in the middle of working out measures to deal with US' president-elect Donald Trump's trade policy, influencing the Chinese to presently spread out their investments to every world region and expand businesses outside of China. Mr Nopporn said it is now high time for Thai investors to start taking actions and invest in neighbouring countries, otherwise they would lose the chance to expand their businesses in this region, as Thailand is also to adapt to the government's Thailand 4.0 scheme. Vice President of the Federation of Thai Industries (FTI) Somyos Tangmeelarb, meanwhile, expressed that there are ab abundance of investment opportunities for Thailand in ASEAN and neighbouring countries, though Thai entrepreneurs must ensure that the products and services planned to be invested in that country would be able to penetrate the local market. Vice President of the Thai Chamber of Commerce and Board President of the Tourism Authorities of Thailand (TAT) Kalin Sarasin, on the other hand, said the Thai Chamber of Commerce has already initiated various projects to assist Thai business owners to invest in neighbouring countries. He added that the Thai Chamber of Commerce believed that the Ministry of Foreign Affairs (MFA) should also become another agency to provide support for Thai investors to start their businesses in ASEAN countries, apart from the Commerce Ministry and Board of Investment (BoI). (TNA)