BoI investment applications up 43% in first half of 2011

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BANGKOK, July 11 – Thailand’s Board of Investment (BoI) Secretary-General Atchaka Sibunruang on Tuesday revealed that the number of projects applying for investment promotions reached 882 with a total investment value of Bt247.1 billion in the first six months of 2011 (January-June).

Ms Atchaka said the value reached was more than half of BoI’s annual target of Bt400 billion. The number of projects surged by 43.2 per cent from 616 in the same period last year. Investment value edged up by 33.6 per cent from Bt185 billion.

The application figure tended to rise since the beginning of the year, she added. In June, the number of investment projects totalled 180 with an investment value of Bt43.6 billion, the highest increase since January, thanks to big investors and entrepreneurs’ expanding production capacity.

Businesses for which investors seek promotional privileges with the highest investment value include vehicle-related equipments, machinery and metals with 226 projects and value of Bt77 billion; service and public utility with 180 projects and investment value of Bt46.3 billion; chemicals, paper and plastic with 126 projects and value of Bt41.3 billion; electronic products and electrical appliances with 130 projects and a value of Bt35.4 billion; and processed agricultural products and foods with 129 projects and a value of Bt25.7 billion.

She said foreign direct investment (FDI) projects seeking investment promotions in the first six months of this year had the investment value of Bt167.2 billion with 522 projects, up 70 per cent from Bt98.3 billion and respectively 39 per cent from 375 projects in the corresponding period last year.

Japanese investors remain the most active applicants with an investment value of Bt72.4 billion, a rise of 87 per cent from Bt38.6 billion year-on-year. The number of projects increased 80 per cent compared to the same period last year from 151 to 272.

Singapore investors came second in applying for 31 project promotions with an investment value of Bt16.6 billion, up 101 per cent from Bt8.2 billion from the same period the year before, while South Korean investors ranked third, seeking promotions valued at Bt6.1 billion with 21 projects, up five times from about Bt1 billion from the same period last year.

Meanwhile, Chinese investors are seeking 18 project promotions valued at Bt23.1 billion, up 232 per cent from Bt6.9 billion from the same period the year before, while investors from Hong Kong applied for 13 projects with an investment value at Bt10.3 billion, up 285 per cent from Bt2.7 billion year-on-year.