Thailand Board of Investment (BOI) opened in Stockholm

To expand its investment facilitating network in Northern Europe, Thailand Board of Investment (BOI) opened its latest office in Stockholm, Sweden, with a mission to promote Thailand as a potential investment destination and a gateway to emerging Asian markets.

 

Industry Minister Charnchai Chairungrueng, along with senior ministry and BoI officials made a four-day visit to Stockholm in order to open BoI’s 13th overseas office there.

 

With its new overseas office in the Swedish capital, BoI secretary-general Atchaka Sibunruang Brimble said she expected that the new office would attract more investment from Scandinavian countries to Thailand, especially in high-technology industries such as steel, vehicles, information and communication technology, environment, and forestry which are needed by this country.

 

“BOI’s office in Stockholm is the third office in Europe after Paris and Frankfurt. It will serve as an investment service center that provides information and consultation for businesses seeking to invest in Thailand, especially in high technology, upstream industry, automobiles, ICT, environment and forestry,” the BOI Secretary General said.

 

“Overseas investment offices play an important role in attracting foreign investment to the country. We believe that the opening of Stockholm office will help increase investment from Sweden as well as other Scandinavian countries, including Norway, Denmark and Finland,” added Dr. Atchaka.

 

According to Mr. Chanchai Chairungruang, Minister of Industry and the head of investment mission to Stockholm, Sweden during September 23-26, 2009, Thailand offers great opportunities for investment because of its strategic location and free trade agreements with its major trading partners including Japan, China, Australia and India. The country provides easy access to Asian markets that have collectively three billion consumers with high purchasing power.

 

Apart from the office opening, an investment seminar and a business networking session were also arranged for interested business operators to learn about Thailand’s investment opportunities and incentives available.

 

BOI from mander grettve on Vimeo.

 

 

The mission also gave potential investors reassurance on Thailand’s economy. As the result of government stimulus packages, the country has shown positive signs of economic recovery, such as an increase in imported raw materials and parts, rising manufacturing capacity utilization and lower unemployment rate, etc.

 

Sweden is the largest economy among Scandinavian countries. It serves as a logistics center of Northern Europe and a gateway to Nordic and Baltic countries as well as the Commonwealth of Independent States (CIS).

 

A good number of business operators in Sweden, including IKEA Group and Ericsson, have expressed interest in investing and doing business in Thailand.

 

IKEA Group, a leading furniture franchise store in Sweden, confirmed to open a large branch in Thailand by 2010.

 

According to BOI statistics, from 1970 to August 2009, there are 83 Swedish companies receiving investment incentives from BOI and their total investment value is approximately Bt22 billion. Large corporations that have already invested in Thailand include ABB Capacitors, Molnlycke Health Care, Electrolux, Eka Chemicals, Perstorp and Volvo.

 

According to BoI statistics, Swedish investors had invested in 47 projects in Thailand valued at Bt14.62 billion from1970 to 2009.

 

The new BOI office is expected to increase investment from Northern European countries by 15%.

 

/Source: press releases and thailand-business-news.com

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