BANGKOK, Aug 24 – Industry Minister Pongsvas Svasti said Friday that he was certain investment promotion applications would hit a record Bt800 billion, higher than this year’s target of Bt630 billion.
His certainty came as a result of the fact that investment promotion applications in the first seven months were already valued at Bt570 billion, 61 per cent higher than the same period last year.
Mr Pongsvas said the reasons why there have been more applications this year were because investors believe in Thailand, while the government’s infrastructure construction with a several hundred billion baht budget helps drive the domestic economy.
Meanwhile, Thailand’s Board of Investment (BoI) secretary-general Atchaka Sibunruang said investors have continued applying for investment promotion at BoI.
Currently, BoI is adjusting a new policy for investment promotion. It will provide the highest benefit to provinces with low development levels and low income per capita. Twenty provinces are the target of this policy adjustment. Tax benefits will also be adjusted, Ms Atchaka noted.