Roadshow To Promote Asean AS Investment Hub

March 11, 2009 16:13 PM 

BANGKOK, March 11 (Bernama) -- Thailand's Board of Investment (BOI) will complete the concept paper on the Joint Asean Ministerial Investment Roadshow and propose to the Asean Coordinating Committee on Investment (CCI) by July 2009, aiming to promote the region as a world-class investment hub. 

BOI secretary-general Dr Atchaka Sibunruang Brimble said the idea of the Joint Asean Investment Roadshow was to highlight opportunities of investing in the 10 member countries. 

She said Asean has a large population, coupled with high levels of consumption, cross-border infrastructure, attractive investment incentives and promotions, fully integrated production bases, supported by the diversity and rich resources of all the 10 members. 

"If the draft is adopted and implemented on track, it is possible to see this Joint Asean Investment Roadshow happen in the near future," Atchaka said in a statement today. 

The draft, which comprises the objectives of the joint roadshow, activities, event plan, targeted countries and recommendations, will be submitted to the upcoming CCI meeting this July. 

According to BOI, the Asean Comprehensive Investment Agreement, which was signed by economic ministers during the recent 14th Asean Summit in Hua Hin, is a comprehensive agreement that encompasses four main pillars of investment-liberalisation, facilitation, protection and promotion. 

It aims to create a more investor-friendly environment in Asean, as well as to enhance foreign investor confidence, including intra-Asean investments. 

Foreign direct investments (FDIs) in Asean totalled US$63.3 billion in 2007, surged from US$51 billion in 2006. 

Over the past decade, Singapore, Thailand and Malaysia ranked top three investment destinations in the region while major investors are the European Union and Japan which recorded over 48 percent of the total FDIs in Asean. 

On the other hand, intra-Asean investments accounted for US$9.5 billion or 15 percent of all foreign investment coming into member countries. 

-- BERNAMA