Foreign direct investment collapses
Foreign direct investment in Thailand in the first half of the year fell by more than 90% in value to the lowest mark in over a decade at US$347 million, reports the Bank of Thailand. The report said FDI declined from $4.2 billion in the same period last year to the lowest value since 2005. The decline was attributed to the structure of Thai industry, which continues to produce low-technology products even as Thai wages rise relative to neighbouring countries’. “They are taking a wait-and-see approach until they see solid signs of recovery in major countries,” said the report.
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