Thailand’s foreign direct investment picking up, says BoI

BANGKOK, Aug 19 (TNA) – Thailand’s foreign direct investment (FDI) has begun to pick up with investment valued in the month of July alone surging to over Bt 20 billion (about US$586 million), according to the Board of Investment (BoI).

BoI investment advisor Hirunya Sujinai revealed that 347 FDI projects with a combined investment value of Bt73.96 billion had applied for investment promotions in the past seven months (January-July).

It is expected the projects would create 30,303 new jobs for the Thai workforce.

In July only, the number of investment projects seeking the investment promotions totalled 66 with the investment value of up to Bt23.97 billion ($702 million) or 47 per cent of the total investment in the first six months.

“The number of FDI projects and investment value has been on the increase,” Ms Hirunya said. “It can be clearly witnessed by the surge in the investment value to over Bt23.97 billion in July.

“It shows foreign investors still pay attention to investing in businesses in Thailand.

Simultaneously, BoI has organised various activities to attract foreign investment on a continuing basis.

“Consequently, we are confident the investment in Thailand will pick up and continue increasing in the rest of 2009,” she said.

Japanese remain the top foreign investors in Thailand with investments in 130 projects worth Bt30.18 billion in the first seven months of this year.

Europeans came second with 80 investment projects worth Bt7.19 billion, followed by Chinese with 13 projects worth Bt4.75 billion.

Industries in which most investors are keen on investing include public utilities, metallic parts production, machinery, and transport equipment. (TNA)