Foreign direct investment surges in Q1

BANGKOK, April 27 (TNA) – Despite unsettled political affairs, foreign interests remain interested in investing in Thailand as witnessed by a surge in the number and value of foreign investment projects seeking Board of Investment (BoI) promotional privileges in the first quarter of this year, according to BoI investment advisor Ajarin Pattanapanchai.

Revealing foreign direct investments (FDI) during January-March 2010, she said the number of foreign investment projects applying for investment promotions soared by 30.5 per cent to 184 from 141 in the same quarter the  year before.

The project investment value totaled Bt44.39 billion, up 137 per cent from Bt18.74 billion in the same quarter last year.

It reflected the global economic recovery and the planned investment expansion in the future.

Of the total number of projects seeking promotion, 94 are new investment projects and 90 are investment expansion projects.

Of the total investment value, Bt24.69 billion stems from investment expansion projects and Bt19.71 billion from new projects.

It showed foreign investors are still confident in Thailand’s potential as an investment magnet.

Most attractive business sectors for foreign investors applying for promotions, in terms of number and value, include production of metal products, machinery,and transport equipment (44 projects with total investment value of Bt14.42 billion), and service and public utility (42 projects with an investment value of Bt10.34 billion).

She said Japanese remain the top investors seeking promotions with 66 projects worth Bt21.57 billion, up 145 per cent from Bt8.79 billion in the same quarter last year. Placing second and third are Chinese and Singaporean investors. (TNA)