Thailand raises investment limit

Thailand's central bank has lifted the ceiling on the amount local companies can invest abroad and said it might relax controls on some foreign borrowings used to finance domestic investments.

The ceiling for overseas investments for companies and individuals was raised to US$50 million a year from yesterday, from a previous limit of US$10 million, the Bank of Thailand said.

The central bank's governor said separately that some funds borrowed abroad might be exempt from a 30 per cent lock-in for 12 months.