Home > Local News > BOI postpones roadshow in Cambodia

BOI postpones roadshow in Cambodia

BANGKOK, Feb 15 – Clashes between Thailand and Cambodia last week
prompted Thailand’s Board of Investment (BoI) to put off leading
investors to look for investment opportunities in Cambodia for an
indefinite period as investors are concerned about safety, BoI
Secretary-General Atchaka Sibunruang Brimble said.

The original trip was scheduled this month. Ms Atchaka said a large
number of Thai investors are interested in investment in Cambodia,
particularly in labour-intensive industries such as the garment
industry, but the roadshow must be postponed until the tension eases.
So far, Thai investors have invested in Cambodia’s retail industry,
hotels, and telecommunications.

Regarding domestic politics, she said investors understand the
political situation in Thailand. If it goes along in accord with
democracy procedures and a new election is held this year, it does not
cause concern among investors, she said.

The requests for investment privileges this year are likely to reach
their target at Bt400 billion (US$13 billion).  In January alone, the
amount was reported at Bt22 billion ($733 million), which was a drop
from last year when a megaproject power plant worth Bt20 billion ($666
million) sought BoI privileges. This year, no megaprojects such as
upstream steel and petrochemical projects are included in the BoI
target because investors are not confident in the location of the
project.

Meanwhile, she said the shortage of labour is a problem foreign
investors facing in Thailand. They asked the BoI to help solve labour
shortages at all levels.

Fighting between Thailand and Cambodia began on Feb 4 and continued
through Feb 7.  Thai Foreign Minister Kasit Piromya reported to the UN
Security Council on Monday that two Thai soldiers and two civilians
were killed during the four-day clashes. He said the ASEAN foreign
ministers are scheduled to meet in Jakarta, Indonesia to discuss the
dispute on Feb 22. (MCOT online news)

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Categories: Local News
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