The Thai Cabinet has approved the ASEAN Investment Facilitation Framework (AIFF), proposed by the Board of Investment (BoI).
The AIFF aims to help ASEAN countries recover from the fallout of COVID-19 by focusing on investment and promoting the region as an important supply source. The framework covers investment facilitation from several ways, including immigration, human resources, capital, business partners as well as support via the latest technology, such as electronic documents and digital platforms.
According to Dr. Nonarit Bisonyabut, a senior researcher at the Thailand Development Research Institute, ASEAN had the potential to become a key global supply source due to its large population. The countries expected to recover quickly are Singapore, Malaysia, Thailand, Indonesia and the Philippines.
Meanwhile, the Cabinet also appointed Deputy Prime Minister Supattanapong Punmeechaow, who oversees issues related to the economy and investment, as the Thai representative at the ASEAN Economics Ministers’ meeting on September 8th. (NNT)
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