Thailand keen to invest in diverse sectors in Western Cape

Aug 30, 2018: Thailand has identified aquaculture, agriculture and the oil & gas sectors as areas of potential investment, following a recent trade mission to the Western Cape led by Damrong Kraikruan, Thai foreign affairs deputy permanent secretary.

According to Yaw Peprah, chief business officer of trade promotion agency Wesgro, which hosted the delegation, total trade between the Western Cape and Thailand currently is at R3.4 billion, with Western Cape exports to Thailand making up six percent of the total amount and Thai imports into the Western Cape accounting for 94 percent.

He said that the foreign direct investment (FDI) between South Africa and Thailand was marginal, with only two Thai companies having invested in a single FDI project from 2003 to 2015, representing US$16.2 million. Meanwhile South African investment into Thailand is equally slim, with investment in two projects by Gauteng-based companies during the same period.