Thailand's Board of Investment (BOI) plans to open its representative offices in Myanmar and Viet Nam in 2017 and in Indonesia in 2018, as part of the country’s strategy to expand investment in ASEAN member nations.

Illustrative image (Source: Internet)

BOI Deputy General Secretary Chokedee Kaewasang said with its strong economic growth, rich natural resources and high-quality human resources, ASEAN will create competitive advantage.

ASEAN member states, especially Cambodia, Laos, Myanmar and Viet Nam, are actively opening up to attract more foreign investment flows.

In the first nine months of this year, Thailand’s investment in ASEAN hit 197.7 billion baht (nearly 5.5 billion USD), accounting for 55.33 percent of the country’s total investment abroad.

Overseas BOI offices are responsible for providing detail information related to market, economic growth, investment policy, opportunity, law and business culture in host countries.

Most Thai investors are interested in the Myanmar market thanks to its high economic growth and abundant natural resources, and convenient shipping routes. Thailand’s total investment in Myanmar in the first three quarters of 2016 hit 14 billion baht (388.5 million USD).

According to Thailand’s Foreign Investment Service Centre, many Thai entrepreneurs have selected Viet Nam and Myanmar as their strategic investment destinations, especially in textiles and agricultural product processing.

(Source: VNA)