Investors seeking investment promotion rise

Thailand’s Board of Investment (BoI) on Thursday said the number of foreign investment projects applying for the agency’s investment privileges increased by 20 per cent year-on-year in the first ten months of 2011, with a project investment value totalling Bt281 billion.

BOI Secretary-General Atchaka Sriboonrueng said the number of foreign investment projects applying for the investment promotion this year rose from 692 to 828 projects.

Ms Atchaka said the value of the projects rose from Bt174 billion to Bt281 billion, a 61 per cent increase year-on-year.

“This reflects that foreign investors are still confident in Thailand,” she said. “The flood situation may slow down some foreign investment but overall the investment climate still has growth potential.”

The BOI chief added that the Ministry of Industry and the BOI will launch a campaign to restore confidence among investors early next year, as well as provide them with vital information on flood-prevention plans, especially at industrial estates.

Ms Atchaka noted that Japanese businesses remained the top investor seeking BOI investment promotions with 441 projects, increasing from 284 projects in 2010, or 55 per cent year-on-year. The total investment value also soared by 104 per cent from Bt71.3 billion in 2010 to Bt145.8 billion in 2011.

Chinese investors came second with 28 projects, valued at Bt25.9 billion, followed by 44 projects by Singaporean investors worth Bt19.8 billion and 33 projects by South Korean investors worth Bt7.1 billion.

Out of 828 projects applying, 444 represent new investment while the other 384 are expansions of already existing projects, said Ms Atchana, adding that investment in metal, machinery and transport equipment manufacturing rank are the top ranking projects, followed by electronics and electric appliances, infrastructure, chemical and