Over 2,000 investment projects worth 1.4 trillion baht applied for promotional privileges from the Board of Investment in last December alone, said Mrs Hirunya Sujinai, acting secretary-general of the BoI, on Monday.
For the whole year last year, she disclosed that altogether 3,469 investment projects worth 2.1 trillion baht applied for promotional privileges from the BoI which she described as the highest in term of investment value in 50 years.
The number of projects seeking promotional privileges and their value for last year represent an increase of 73 percent and 117 percent respectively compared to a year earlier.
Mrs Hirunya attributed the high number of projects to investors’ desire to invest in Thailand.
Since the beginning of this year the new BOI investment policy has come into effect. The new policy does no longer support activities that have low added value, are labor intensive, involve low technology and/or uncomplicated production processes. But, it does promote some interesting new activities.
Also, very importantly, the BOI is continuing its promotion of productivity improvement investments for BOI promoted companies but also for non-BOI promoted companies.