Requests for investment privileges in Thailand rise in late 2009

More than 1,500 investment projects worth over Bt700 billion applied for incentives from the Board of Investment (BoI) last year, according to Secretary-General Atchaka Sibunruang.

The applications indicated that local and foreign investors remain confident in Thailand despite the ongoing problem of the suspension of 65 Map Ta Phut industrial projects, she said.

The large number of requests for BoI privileges at the end of 2009 was caused by the government’s stimulus measures to give privileges to businesses in six industries valid in 2009, she added.

Due to more investment at the year end, the value of investment in 2009 was 80 per cent higher than earlier the BoI earlier targeted.

Service and healthcare industries sought BOI privileges in the largest numbers, she said, with 709 projects valued at Bt430.8 billion. Most projects are investments in alternative energy such as wind and solar energy, and a natural gas power plant, followed by electronics and electric appliances industries with 219 projects worth more than Bt100.9 billion.

The agricultural industry ranked third with 212 projects worth Bt66.8 billion. Most projects are related to alternative energy fuels processed from agri-industrial plants such as biodiesel and ethanol.

In 2009, 106 projects were capitalised at over one billion baht, worth Bt460.3 billion altogether, according to the BoI.

Most projects seeking BoI privileges are medium-sized, with capital between Bt20-200 million.

The investment value of all 689 medium-sized projects is Bt52.6 billion.

via MCOT English News : Request for investment privileges rises in late 2009: BoI.