BOI approves 3 investment projects worth Bt44 bn

BANGKOK, 17 November 2009 (NNT) – The Board of Investment of Thailand (BOI) approved promotional privileges for three investment projects worth a total of 44 billion baht, while expanding the list of SME businesses eligible for the privilege.

Deputy Minister of Labor, Mr Sorayuth Petchtrakul, said the BOI has recently approved the addition of 47 more types of small- and medium-sized business to the investment promotion list, allowing more SME groups to gain access to the support. The addition raises the number of eligible types of business to 57.

The BOI meeting agreed to terminate the OTOP (One Tambon, One Product) prerequisite condition, which previously defined creative industry to only OTOP selections, in the hope to broaden the chance for SMEs to access the promotional privileges.

The three projects approved by BOI this week involve a manufacturer of the refrigerating system, a natural gas-based power generator and exploration of oil rigs.