BoI to extend “Thailand Investment Year”

BANGKOK, 25 January 2010 (NNT) – The Board of Investment (BoI) is extending the “Thailand Investment Year” for another year to stimulate investment after an increase in investment support from the board last year.

The extension of the Thailand Year of Investment will focus on sustainable investments especially those in the alternative energy sector as well as science and technology with hopes to upgrade the Thai industrial sector. The Thailand Year of Investment was effective from 2008-2009, succeeding in stimulating investors to request for support of 720 billion THB, which exceeded expectations.

Prime Minister Abhisit Vejjajiva said he would ask the board to consider giving support to nine new investment projects, worth 21 billion THB. These projects will manufacture automobile spare parts, coal, treated distillated aromatic extract, electricity generators, and steam and water energies for industries.

BoI Secretary-General Atchaka Sribunruang said last year most of the BoI investment support had been provided for alternative energy industrial projects. However as more investors show interest, it will slow the BoI’s process down, due to some of the investors’ limited financial ability.