Investment applications jump 45%

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BANGKOK, Aug 5 – Over a thousand applications were received — 1,030 exactly – as investment projects seeking  Board of Investment (BoI) incentives at a total investment value of Bt299.5 billion were filed during the first seven months of this year, said Atchaka Sibunruang, secretary-general of the BoI.

The agency recorded a 37.9 per cent increase in the number of applicants, from 747 projects in the same period last year, while investment value rose 45.5 per cent.

The number of investment projects applying for BOI privileges rose continuously since January, particularly in July alone when 161 projects sought privileges with an overall investment value of Bt53.6 billion, the highest value in the past seven months.

Investment projects seeking incentives included both small- and medium-sized projects as well as mega projects with investment value of more than one billion baht such as air conditioner manufacturing, a petrochemical project, air transportation business and industrial estates.

“As investment value of projects seeking BoI privileges is almost Bt300 billion, the BoI is confident that investment in Thailand will exceed this year’s target at Bt400 billion,” the BoI secretary-general said.

Interest in investment in Thailand tends to grow continually to the end of the year, she said especially at the year-end when the BoI will hold the BoI fair 2011 which will underscore Thailand’s potential and confidence as the region’s investment base.

Among businesses which sought BoI privileges, metal products, machinery and transportation equipment have applied with the highest number of 265 projects with maximum investment value of Bt83.1 billion, rising from 140 projects with an investment value of Bt26.6 billion for the same period last year.

Ranked second were 222 services and utilities projects with combined investment value of Bt61.5 billion, followed by 141 investment projects of chemicals, paper and plastics with an investment value of Bt49.9 billion.