BOI: Applications for investment privileges will miss target next year

0
770

BANGKOK, 20 November 2013 The Board of Investment of Thailand (BOI) predicts that applications for investment privileges in 2014 will be worth 900 billion baht, which is 100 billion baht lower than its target, as the global economy has yet to fully recover. 

BOI Secretary-General Udom Wongwiwatchai said as long as the political situation remained violence-free, it would not have an impact on investment in Thailand. He viewed the global economic condition as the main risk factor for investment in the coming period while indicating that the private sector’s investment in business expansion could be obstructed by the export slowdown.

Based on the value of requested investment privileges of 757 billion baht in the first 10 months of 2013, the BOI projected that the value of next year’s applications would only reach 900 billion baht, as opposed to the target of one trillion baht.

The BOI explained that businesses would ask for significantly less financial support in 2014 compared to 2012 when the private sector applied for higher privileges to revive their businesses hard hit by the 2011 flood crisis.