Survey shows most foreign investors still confident in Thailand
Ninety-six percent of foreign investors surveyed expressed continued confidence in Thailand despite the effects of COVID-19 on the economy, and nearly 20 percent said they plan to increase their investments in the Kingdom.
Those were the findings of research conducted by Thailand’s Board of Investment (BOI) to gauge the viewpoints of international investors in the Kingdom. Over 600 companies doing business in Thailand responded to the Board’s survey.
Of those, 19.3 percent said they are planning on increasing their investments in the Kingdom this year, while 76.6 percent said they would maintain their investments or continue to invest at the same level as earlier.
The 19.3 percent of companies putting more money into businesses said they were undeterred by the pandemic. Although Thailand is battling a coronavirus outbreak, it has not become a full-fledged epidemic, and authorities say they believe they will keep the spread of the virus under control.
Furthermore, the country has been able to keep its manufacturing plants operational and its logistics and transport systems working while other countries shut down.
Several multinational businesses, including American companies, have said they will either shift production to Thailand or are considering doing so. Their goal is to diversify their supply chains, and they are seeking locations that have responded well to the pandemic.
The reasons businesses responding to the Board’s survey gave for their sustained confidence included investment promotion packages, availability of materials and parts, and the preparedness of the supporting industries.
The BOI recently increased the benefits and privileges in its investment promotion packages to convince businesses holding back on investing that this year would be a good time to fund future operations and further expansion.
Photo courtesy of https://www.boi.go.th/