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Value of BoI investment applications doubles in 2 months

Mar 18. 2016
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APPLICATIONS for Board of Investment promotional privileges nearly doubled in January and February compared with the same period last year, while the overall investment value is expected to reach more than Bt200 billion in the first half of the year.

Hiranya Sujinai, secretary-general of the BoI, yesterday put the year-on-year increase down to the agency’s measures for targeted businesses and clusters, and its activities aimed at attracting investment.

Of the roughly Bt200 billion-worth of investment applications expected in the first half, around Bt100 billion is expected to be for targeted industries.

This year is expected to see Bt450 billion-worth of applications for BoI privileges, she said.During the first two months, 187 projects valued at Bt32.44 billion were the subject of applications for investment promotion.

The value nearly doubled from the same period last year, when applications worth Bt16.5 billion were received.

Of the 187 projects, 120 were foreign direct investment totalling Bt12.5 billion, up fivefold from the same period last year.

About 68 per cent of the projects were in the government’s 10 targeted industries, particularly digital, agricultural products, and petrochemical and chemical products, Hiranya added.

To attract foreign investment and explain the country’s investment-promotion measures, the BoI will join Deputy Prime Minister Somkid Jatusripitak’s team on its visit to South Korea on March 24, she said, adding that at least 500 Korean investors are expected to attend the event.

South Korea’s leading industries include digital, information and communications technology, software and steel.

“Most investors have responded [positively] to Thailand’s [revamped] policy, and a large number insist on investment or expanded investment in the country,” the agency chief said.

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