Investment value of projects seeking privileges passes target to Bt600 billion: BoI

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BANGKOK, Dec 7 – Some 1,630 investment projects sought privileges from Thailand’s Board of Investment (BoI) with a total investment value of Bt615.4 billion in the first 11 months of 2011, higher than the targeted Bt500 billion, indicating international investor confidence in the country, Industry Minister Wannarat Channukul said on Wednesday.

The number of investment projects seeking BoI privileges in the first 11 months of this year was 20 per cent higher than last year, while investment value increased 77 per cent year-on-year.

In November alone, when Thailand was facing a flood crisis, 177 investment projects with an investment value of Bt135.6 billion were submitted for BoI privileges, indicating that Thai and foreign investors remain confident in Thailand as a regional production base.

What should be done now is to consider further measures to help entrepreneurs impacted by flooding, the minister said.

Among 1,630 investment projects seeking BoI privileges in the first 11 months of this year, the highest value — Bt246.9 billion — was from 376 investment projects in the service and public utility industry sectors, including megaprojects such as power plants run by biomass fuel, natural gas and the air transport business.

Second ranking are metals, machinery, automotive and parts industries with an overall investment value of Bt118.8 billion. About 420 investment projects in this group produce tyres, aluminium parts and machine tools such as lathes.

Regarding foreign direct investment, Mr Wannarat disclosed that 921 projects sought BoI privileges from January to November this year with investment value of Bt354 billion, up 77 per cent year-on-year.

Japan remained Thailand’s top investor with 496 projects and an investment value of Bt168 billion, up 54 per cent and 90 per cent respectively, compared to last year, he added.