The number of overall investment projects applying for investment promotions, both Thai and foreign, reached 277 with a total investment value of Bt154.2 billion in the first two months of this year, while the investment value edged up by 133.3 percent from Bt66.1 billion last year, according to Industry Minister Pongsawat Svasti.
The number of projects surged by 14.5 percent from 242 year-on-year, the minister said, citing Thailand Board of Investment (BoI) figures.
Industry Minister Pongsawat Svasti.
Businesses for which investors seek promotional privileges with the highest investment value include chemicals, paper and plastics with 54 projects valued at Bt64 billion; service and public utility with 52 projects with an investment value of Bt32 billion; electronic products and electrical appliances with 57 projects valued at Bt25.6 billion; vehicle-related equipment, machinery and metals with 57 projects valued at Bt15 billion; and processed agricultural products and foods with 37 projects valued at Bt11.4 billion.
Pongsawat said such investment values reflect Thailand’s potential and investors’ high confidence on investing in the country.
Meanwhile, Thailand’s Board of Investment (BoI) Secretary-General Atchaka Sibunruang said such high surge was due to growing investment direction from abroad.
She said there were 188 projects for which foreign investors sought promotional privileges during Jan-Feb, with an investment value of Bt82.2 billion. The number of projects increased 30.5 percent from 144 year-on-year, while their combined investment value edged up 91.7 percent from Bt42.8 billion.
Electronic products and electrical appliances were the businesses for which foreign investors sought promotional privileges with the highest investment value at Bt25.5 billion (47 projects).
According to Ms Atchaka, foreign direct investment (FDI) promotions during the first two months were mainly businesses already invested in Thailand and wanting to expand their investment, counting for 114 projects with an investment value of Bt55.4 billion.
Japanese investors remain the most active applicants with an investment value of Bt38.2 billion with 101 projects. American investors came second in applying for 10 project promotions with an investment value of Bt8.1 billion, while investors from the Netherlands ranked third, seeking promotions valued at Bt6.6 billion with five projects.
Singaporean investors sought 14 project promotions valued at Bt3.2 billion, while Swiss investors applied for 13 projects with an investment value at Bt2.5 billion with four projects.