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Federation of Thai Industries (FTI): Map Ta Phut Impasse cost up to B100bn

The court ruling to uphold the order suspending 65 new industrial investment projects at Map Ta Phut industrial estate had destroyed the confidence of foreign investors and caused investment damage of 90 to 100 billion baht, vice chairman of the Federation of Thai Industries (FTI) Thanit Sorat said on Thursday.

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The court ruling to uphold the order suspending 65 new industrial investment projects at Map Ta Phut industrial estate had destroyed the confidence of foreign investors and caused investment damage of 90 to 100 billion baht, vice chairman of the Federation of Thai Industries (FTI) Thanit Sorat said on Thursday.

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FTI: Impasse cost up to B100bn

Infrastructure services, if quickly improved, could promote a better investment climate in Thailand. Logistic costs, for example, are reported by firms to be higher for them in 2007 compared to 2004. This is particularly true for industries that are located in regions other than Bangkok and vicinity or the East where the major markets and ports are located. They include the food processing and furniture industries. A partial explanation for the higher logistic cost was the sharp rise in diesel prices from 2004 to 2007. However, another important explanation is the increased congestion of roads and ports which added to the transport time and costs.

An industrial plant in Map Ta Phut

An industrial plant in Map Ta Phut

The quality of public utility services (electricity, water, and telephone) have also declined from 2004 to 2007 as the period of service interruptions have risen. This is a reflection of the inadequacy of infrastructure services as demand from businesses have increased rapidly over the years. These service interruptions are costly for firms and will hurt Thailand’s competitiveness as other countries in the region such as China and Vietnam are quickly improving them.

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In the first nine months of 2020, local and international companies applied to invest as much as $1.7 billion in Thailand in more than 300 projects in the sectors listed as “BCG”, or Bio-Circular-Green economic activities focused on environmental protection and sustainability, according to data collected by the Thailand Board of Investment (BOI).

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The Thailand Board of Investment (BOI) on Monday approved a series of measures to accelerate investments, particularly in target industries and to encourage business to adopt digital technologies.

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Despite the COVID-19-induced economic hardship, as much as 96% of foreign direct investors operating in Thailand are confident in the country’s potential and have plans to expand or at least maintain their investment, citing attractive investment incentives, a strong supporting industry supply chain and the availability of raw materials and parts, according to the Thailand Board of Investment’s (BOI) annual Foreign Investor Confidence Survey.

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