To cope with the adverse impact of COVID-19 on foreign investment, the Deputy Prime Minister, Dr. Somkid Jatusripitak, has assigned the Board of Investment (BOI) to fine-tune its work by highlighting the strengths of the country to attract more foreign investors, with a focus on agricultural business to help raise income distribution in the local economy.
Deputy Prime Minister Somkid said today that the BOI will find ways to create strong points in the country’s investment sector during the pandemic, which is expected to have an impact on the global economy for one to two years. They will focus on the food industry, agriculture, processed food, medical services, tourism, logistics and digital technology, in an effort to make Thailand the investment center of the CLMTV (Cambodia, Laos, Myanmar, Thailand and Vietnam) region.
Investment in the agricultural sector will create jobs and incomes for both small and new farmers. The BOI will use its mechanisms and develop investment packages to support connectivity between the smart farmers’ group, local farmers and universities to help raise income distribution in the local economy.
To raise more funds from foreign investors five years from now, the board has to help produce more unicorn businesses in Thailand. A unicorn is a startup company valued at more than 1 billion United States dollars. This will enable the country to advance from being just part of a supply chain for foreign entrepreneurs.
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