Dubai is an emerging market for investors

DUBAI — Dubai with its robust economic growth that has caught the world's attention, is the ideal investment destination for Thai businessmen, Pasan Teparak, newly-appointed Consul-General of Thailand, told Khaleej Times here.

By Criselda E. Diala

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Published: Sun 23 Jul 2006, 10:07 AM

Last updated: Sat 4 Apr 2015, 7:16 PM

"Dubai is a very energetic city, an emerging market for international investors. There are opportunities to strengthen the existing ties between the UAE and Thailand in general, and Bangkok and Dubai in particular," said Teparak, who assumed the post as Consul-General of Thailand in Dubai in April this year.

A first-timer in the Middle East, Teparak, who had his last diplomatic posting in Canada, had to return to Thailand shortly after receiving his consular appointment in Dubai because of his role in the preparation for the 60th anniversary of King Bhumibol Adulyadej's accession to the throne. He arrived in Dubai on June 25 to continue his consular service in the emirate.

Teparak said that as far as national economic development is concerned, Dubai and Bangkok share a number of things in common. "Dubai is known as the fastest growing city and the aviation hub in the Middle East region, while Bangkok shares the same description in as far as the Southeast Asian region is concerned," he explained.

Towards the latter part of the year, Thailand is expected to open its new Suvarnabhumi Airport in Bangkok, which will pave the way for an increase in air traffic and passenger movement in the country.

At the moment, Teparak said, Dubai is second home to some 4,000 Thai nationals, 10 per cent of whom are working in the service and hospitality industry. Thai restaurants are also increasing in numbers in this cosmopolitan state and Thai construction firms are setting up their businesses here.

The Consul-General said the booming construction industry in the emirate can provide not only immediate employment for Thai nationals but also eventual trade opportunity for Thai businessmen who are into the handicraft and furniture business.

"There is indeed enough room for Thailand to be presented more in Dubai. Apart from protecting the welfare of Thai nationals, one from my primary tasks as the Consul-General is to encourage Thai businessmen to invest here. I will devote my time to developing investment perspectives. As you can see, because of the huge expatriate population in Dubai, people like to do business with each other," Teparak concluded.

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