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.
More manufacturers to relocate from China to Southeast Asia
JLL anticipates the trend to accelerate as the China-US tariff war are driving more companies in China to relocate their operations to other countries to avoid US tariffs and maintain their competitiveness.
Bangkok, 11 July 2019 – More manufacturers have relocated from China to Southeast Asia over the past few years largely because The Red Dragon’s labor costs have become less and less competitive. This trend has been reinforced by the China-US trade war that began in 2018.(more…)
SET up 6.8% at end of June, highest performer in Asia
The Set is up 10.6 per cent from the end of 2018 to 1,730.34 points and SCB Securities thinks the Thai stock market may now rise to 1,750 points.
High-speed rail project to link three airport to be signed next month
Contracts to link three airports and the Map Ta Phut industrial port development project expected to be signed between state firms and private concessionaires next month.
The Eastern Economic Corridor Policy Committee has acknowledged progress in the high-speed rail project to link three airports and the Map Ta Phut industrial port development project.
Contracts for both projects are expected to be signed between state firms and private concessionaires next month.
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