Q1 sees foreign business investment of THB1.6 bil

The Alien Business Committee has authorized 32 more foreign businesses to invest in Thailand in March 2012, resulting in a total of 79 businesses approved in the first quarter with the combined investment worth 1.6 billion baht.

Deputy Director-General of the Department of Business Development Ittipol Changlum said there was an increase of 39% in the number of approved foreign businesses in March, compared with the same period last year. The 32 newly-authorized foreign businesses had a combined investment fund of 547 million baht and created 951 jobs for Thai people.

Most of the 32 foreign businesses are service providers, followed by representative offices, agents, retailers and wholesalers. The service sector accounts for the largest investment capital of 394 million baht.

Compared quarter to quarter, the number of approved foreign businesses in the first quarter of 2012 is higher by 49% than the same period last year with a total investment fund of over 1.6 billion baht.