More SMEs apply for factory licences this year

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BANGKOK,(NNT) – The Industry Ministry is expecting more investments from the private sector at the latter half of the year after signs of local economic recovery, and the investment green lights from the Board of Investment of Thailand (BOI).

Thailand News - 11-04-17 3 More SMEs apply for factory licences this year 1JPG

Department of Industrial Works Director-General Mongkol Pruekwatana revealed that operators of 1,154 factories requested for the Ror Ngor 4 permit which is a license for operating a factory from January to March 2017, an increase of 0.96% year-on-year. He said the figure represents an investment value of 94.4 billion baht, a decrease of 17.91% compared to the same period last year.

Meanwhile, Permanent Secretary of the Ministry of Industry Somchai Harnhirun stated that the number of the requests for the licenses is currently at a decent level with the potential to rise in the foreseeable future. He explained his forecast is based on signs of local economic recovery, particularly in the export sector, coupled with the recovering global economy and the Thai government’s investment promotion campaigns.

The Permanent Secretary is confident that the number of factories registered this year will exceed last year’s 5,000, amounting to more than 500 billion baht of investment value. He credited the positive projection to the Board of Investment’s approval to promote businesses that relate to energy, auto parts, and petrochemicals.