Thailand has bright prospect for agricultural investment in ASEAN

BANGKOK, July 3 (TNA) - The Office of Agricultural Economics (OAE), under the Ministry of Agriculture and Cooperatives, says that Thailand has considerable opportunities to expand agricultural investment projects to other countries in the Association of Southeast Asian Nations (ASEAN). Phumsak Rasi, Director of the OAE's Agricultural Economic Operation Center, told journalists of the prospect on Thursday, pointing out that the formation of the ASEAN Community (AC) by 2015 will bring about the opportunities for Thailand, as other ASEAN member countries, especially such new members as Cambodia, Laos, Myanmar and Vietnam, called in short as CLMV, have huge sources of resources and growing markets. Phumsak suggested that Thailand invest in organic farming, advanced agriculture, rice mills, aquaculture and the processing of aquatic animals in Cambodia. In Laos, the senior official recommended, Thailand should invest in the production and processing of farm products, livestock development and freshwater fishery in the Mekong River. The senior official acknowledged that the Myanmar government is promoting investment in all kinds of agriculture and the potential enhancement of local farmers. The senior official also suggested that Thailand expand investment in agro-industries, food processing and the manufacturing of Para rubber products in Indonesia. The director urged Thai investors to, however, thoroughly study the other ASEAN countries where they want to invest. Last year, the lion's share of Thailand's foreign direct investment (FDI) in ASEAN went to Singapore at about 233.51 billion baht, followed by Indonesia at 89.29 billion baht and Malaysia at 89.27 billion. (TNA)