61 UAE firms invested in Thailand, more coming: DITP
Thailand’s Department of International Trade Promotion (DITP) is upbeat that more businesses from the United Arab Emirates would join the bandwagon of 61 UAE firms already investing in Thailand.
The DITP office in Dubai quoted Jamal bin Saif al Jarwan, secretary-general of the UAE International Investors Council, as saying that UAE has a plan to boost its economic status globally by seeking to invest more abroad.
According to the DITP office, Jarwan disclosed that the UAE now has investment portfolios worth 2.5 trillion US dollars and it intends to increase more foreign investments.
Jarwan said Thailand would be among the investment destinations for UAE public and private firms.
Currently, 61 UAE firms have entered Thailand, including Mubadala Petroleum, which is 100% owned by the UAE government.
Mubadala has won concessions to carry out petroleum exploration in several fields in Thailand, including the Jasmine and Banyen fields.
Moreover, DP World Thailand (Laem Chabang International Terminal co Ltd), which is owned by the UAE government, has won a 30-year concession to build and operate B5 and C3 ports in the Laem Chabang International Terminal.
The DITP office said another significant investor from UAE in Thailand is the Abu Dhabi Fund for Development (ADFD), which has invested in 26 nations. The ADFD has joined hand with Minor International Plc to buy shares in four hotels and a shopping mall in Thailand.
The DITP office said several Thai firms have also invested in UAE, including those in the hotel, restaurant and trade show businesses.
