Number of investment projects seeking promotional privileges records new high


BANGKOK, Aug 11 —  The Office of the Board of Investment (BoI) reported a new high of this year as a sign of economic recovery, but investment projects seeking promotional privileges in the first seven months so far this year was 30 per cent lower year-on-year.

BOI Secretary-General Udom Wongviwatchai said the number of investment projects seeking BoI promotion was growing in the past three months.

In July alone 147 investment projects were filed seeking promotional privileges, the highest number in seven months. Although their combined value was not high, the growing project number showed that investors’ confidence in Thailand was restored, he said.

The BoI secretary-general said in the first seven months of this year 770 investment projects were proposed for BoI promotional privileges. The number dropped by 30 per cent year-on-year.

The lion’s share of proposed projects concerned metal products, machines and transport equipment with combined investment of Bt174.1 billion, followed by service and public utility projects, chemical products, paper, plastic products and farm product projects.

Mr Udom said that Japanese operators formed the biggest group of foreign investors in Thailand.

They had 220 investment projects with combined investment of Bt89.91 billion. Investment projects from South Korea, the United States and the European Union are also growing considerably.

South Korean investors proposed 27 projects, Americans 16 projects and Europeans 70 projects.