By NNN-TNA
Bangkok : Thailand’s Deputy Prime Minister and Industry Minister Kosit Panpiemras is leading a delegation of senior officials and business executives to India, hoping to expand trade and investment opportunities between the two countries.
Board of Investment (BoI) secretary-general Sathit Charnchaovakul on Monday revealed that Mr. Kosit and his delegation of top officials from BoI, the Software Industry Promotion Agency and National Cente for Genetic Engineering and Biotechnology, as well as business figures are scheduled to visit Bangalore and New Delhi from Aug 28 through Sept 4.
The trip is aimed to explore trade and investment opportunities and invite operators of industries with growth potential in India such as software, biotech and pharmaceuticals, steel, automobile production and parts to invest in Thailand or form joint ventures with Thai investors.
It would also give Thai investors an opportunity to expand the trade and investment cooperation with India, particularly in the auto parts industry.
The visit will include a seminar on investment, a discussion between Thai and Indian business executives, and a meeting with the Indian commerce and industry minister.
During the past five years (2002-2006), Indian investors had sought BoI investment promotions for 72 projects with total investment of Bt9.25 billion (US$282.1 million).
In the first seven months of this year, 13 investment projects worth Bt2.09 billion (US$63.77 million) owned by Indian investors had applied for such promotions, up 226 per cent — more than twice the amount of the same period last year.
Thailand ranks third for investment in India among ASEAN after Malaysia and Singapore and 19th among all foreign investors in the country.
The number of investment projects made by Thai investors in India in the past 16 years totaled 144 with combined investment of US$831.22 million or 1.12 per cent of total foreign investment in the country.
Most Thai investors had invested in telecommunications, food processing, hotels and tourism, construction, electronics and the electrical appliance industries.