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Applications for investment privileges up 51%

Applications for investment privileges in Thailand in the first five months of the year totaled 725 projects, with a combined investment value of Bt208 billion, according to Board of Investment (BoI) Secretary-General Atchaka Sibunruang.

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Applications for investment privileges in Thailand in the first five months of the year totaled 725 projects, with a combined investment value of Bt208 billion, according to Board of Investment (BoI) Secretary-General Atchaka Sibunruang.

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Ms Atchaka Sibunruang on Monday told a meeting of the BOI board chaired by Prime Minister Abhisit Vejjajiva that from January to May, the investment value from applications for investment promotions would reach Bt400 billion this year as targeted given the clear recovery of the global and domestic economies.

The total was up by 51 per cent from 180 projects and investment value up by 25 per cent from Bt166 billion on the same period last year, she said.

First quarter data showed better results in foreign applications

The biggest group of investment with a total of 184 applications with investment value of Bt63 billion are investing in the metal, machinery and transportation equipment industries, followed by 154 applications or Bt42 billion for services and utilities sectors, 99 applications or Bt37 billion for the chemical, paper and plastic industries and 108 applications or Bt28 billion for electronic and  electric appliances, she said.

Mrs Atchaka said that foreign direct investment continued to rise as well with the number of projects surging to 431 with an investment value of Bt141 billion.

It is expected that investment value will double in the first half of this year and reach Bt400 billion for the whole year.

Japanese investors remained the top group of investors in terms of the number of projects and investment value. In the first five months of this year, the number of projects from Japan seeking investment promotions rose to 221 projects or 51 per cent of total foreign investment with investment value of Bt57.48 billion or a 77 per cent increase when compare with the same period last year.

Japanese firms mainly invested in automobile spare parts and electronic components.

The second biggest investor in Thailand is China with a cumulative investment value of over Bt20.5 billion or 15 per cent of overall foreign investment. The country’s main investment is automobile tire production. (MCOT online news)

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