BOI: Investment projects rise despite fear of flood

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BANGKOK, 25 June 2012  – Despite fears of a possible repeat of last year’s flood catastrophe, the private sector still places its confidence in Thailand, with as many as 72 businesses applying for investment promotional privileges at the Board of Investment of Thailand (BOI) during the first six months of this year. 

Industry Minister M.R.Phongsawat Svastiwat said that the BOI had initiated special incentive measures to boost post-flood investment in flood-affected industrial areas. With the proposed incentives, 72 entrepreneurs have submitted projects worth 34 billion baht for investment promotion. Among the applicants, 57 are those already investing in the flood-affected areas, while the 15 remaining applicants are new-comers who wish to make their investment in the flooded zone.

At a recent BOI meeting to find successful applicants for the promotional incentives, the panel gave the green light to 11 projects, worth 5.22 billion baht in total. Pepsi-Cola (Thai) Trading Co., Ltd. has requested to invest 2.4 billion baht to relocate its snacks business from Lamphun northern province to Rojana Industrial Park in Ayutthaya central province which is closer to its customers’ warehouses. Seven other approved projects also belong to industries located in the industrial park which was heavily flooded last year, while only 3 flood-affected businesses have requested to relocate to other regions to prevent risks.