Thailand invites Germany to invest in petroleum business

BANGKOK, October 2 (TNA) - The Thai government encourages Germany to invest in the petroleum business that requires advance technologies in the Thai economy, where there are more rooms to expand its business and investment. Thai Industry Minister Atchaka Sibunruang sent the message to German Ambassador to Thailand Peter Prugel in their meeting in Bangkok on October 1. Atchaka told journalists after the meeting that Germany is aware of the possibility of expanding its business and investment in Thailand. At present, Atchaka acknowledged, Germany is the biggest investor from the European Union (EU) in Thailand, as about 600 German companies are investing in various local sectors, including automobile, infrastructure and transport. Last year, Atchaka revealed, German investors sought promotional privileges for 35 new projects, worth 12.8 billion baht, from her ministry's Board of Investment of Thailand (BOI), while the entire EU invested 169.1 billion baht in 260 new projects in Thailand in 2014. According to the industry minister, Thailand is ready to offer special privileges for German investment projects, especially those in the petroleum sector. The Thai industry minister said that she also invited German investors to do businesses with local small and medium-sized enterprises (SMEs). (TNA)