BANGKOK, 12 June 2012 – The Board of Investment of Thailand (BOI) has reported an increase in investment applications in May 2012 despite the country’s internal political conflicts.
According to the BOI, 200 project applications for investment promotion privileges, worth 82.5 billion baht, were submitted to the Board in May 2012. The number of investment projects has increased by 64.5% year-on-year, while the value of investment rose by 54.4%. Despite the private sector’s concerns over the political turmoil, which might impact the country’s investment situation, the BOI pointed out that statistics indicated that May 2012 saw over 50% increase in both the number of projects and investment value.
The investment value from January-May saw a full-on growth worth 374.9 billion baht, which has helped Thailand edge closer to achieving its annual target of 600 billion baht worth of investment promotion.
The BOI explained that the growth in May was attributed to the numerous banking holidays in April, which had prompted investors to put off applying for investment privileges till May. At the same time, industrial factories have resumed their operation, while also expanding their production capacity. Additionally, the government’s policies to aid affected entrepreneurs have won the confidence of investors.