BOT launches TDI webpage

BANGKOK, October 24 (TNA) - The Bank of Thailand (BOT) has introduced a website which gathers information on overseas investment for Thai business operators, named the "TDI webpage". BOT Deputy Governor Pongpen Ruengvirayudh, who supervises monetary stability, told journalists on Thursday that the BOT has relaxed its regulations on money transfers to facilitate overseas investment since 2010 and more Thai business operators have been interested in overseas investment. Pongpen explained, however, that the Thai business operators found it difficult to seek relevant information and the central bank has, thus, launched the new Thai Direct Investment (TDI) webpage on its official website to gather such information in one place for Thai investors and the one-stop information base should help reduce their costs. Pongpen noted that the BOT wants Thai business operators to expand their investment overseas to boost Thailand's competitiveness on the world market, spread risks by having various production bases and markets, lower export costs in other countries and help the country manage fund flows. According to the central bank's statistics, Thai business operators invested 5.5 billion US dollars overseas during the first eight months of this year, which helped cushion national impacts from excessive capital inflows. The BOT deputy governor also urged other agencies, including the Stock Exchange of Thailand (SET), to help educate Thai business operators and encourage them to expand their investment overseas. (TNA)