Thailand Board of Investment (BOI) will complete the concept paper on Joint ASEAN Ministerial Investment Roadshow and propose to ASEAN Coordinating Committee on Investment (CCI) by July 2009, aiming to promote ASEAN as a world-class investment hub in order to boost investment to the region.
To substantiate the ASEAN Comprehensive Investment Agreement (ACIA), recently signed by economic ministers during the 14th ASEAN Summit, held at Hua Hin, the BOI, assigned by ASEAN Coordinating Committee on Investment (CCI) during the CCI Meeting in November 2008, is working on the drafted paper for Joint ASEAN Ministerial Investment Roadshow to propose to the upcoming CCI meeting this July.
According to Dr. Atchaka Sibunruang Brimble, BOI Secretary-General, the idea of the Joint ASEAN Investment Roadshow is to highlight opportunities of investing in ASEAN countries, where there are 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.
The paper shall comprise the objectives of the joint road show, activities/event plan, targeted countries and recommendations.
“If the draft is adopted and implemented on track, it is possible to see this Joint ASEAN Investment Roadshow happen in the near future,” Dr. Atchaka said.
The ASEAN Comprehensive Investment Agreement (ACIA), taken into account international best practices, is a comprehensive agreement that encompasses four main pillars of investment—liberalization, 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 investment in ASEAN totaled US$63.3 billion in 2007, surged from US$51 billion in 2006. Over the past decade, Singapore, Thailand and Malaysia ranked top three investment destinations in ASEAN. Major investors in the region are EU and Japan, recorded over 48% of total FDIs in ASEAN.
Meanwhile, intra-ASEAN investments accounted for US$ 9.5 billion or 15% of all foreign investment coming into ASEAN countries.
