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Thailand’s BOI Applications Show a 15% decline in value

The total value of the applications slowed 15% from the year earlier period, to 223.7 billion baht (USD7.2 billion), due to a smaller average size of projects amid a global decline in investment due to COVID-19.

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Sustained commitment to Thailand by both foreign and local companies resulted in a slight increase in the number of investment applications in the January-September period to 1,098, as firms in targeted sectors including electrical and electronics (E&E), food, automotive and medical, continued to expand amid the COVID-19-induced economic slowdown, the Thailand Board of Investment said today.

The total value of the applications slowed 15% from the year earlier period, to 223.7 billion baht (USD7.2 billion), due to a smaller average size of projects amid a global decline in investment due to COVID-19.

Targeted sectors represented 58% of total value

In that period, the targeted sectors represented 58% of total value of applications. E&E was the sector in which both domestic and foreign investors committed the most investment with 106 projects worth a total of 37.6 billion baht, followed by agriculture and food processing with 114 projects worth a total of 26.9 billion baht, and the automotive industry, with 63 projects worth a total of 20 billion baht.

Applications in the medical sector more than doubled to 65 projects

The number of applications in the medical sector has more than doubled to 65 projects, while the total value surged 75% year-on-year to 14.7 billion baht to become the fourth ranked sector, the BOI said.

“Investment in our top targeted sectors remained strong, showing Thailand’s resilience despite the difficult global environment,” said BOI Secretary General Duangjai Asawachintachit.

“The medical sector continued to show a strong performance as investors quickly adjusted to the COVID-19 situation and built upon Thailand’s medical and research capability.”

BOI Secretary General Duangjai Asawachintachit

Out of the total applications, 47% were new investments, while the remaining 53% were for the expansion of existing projects, the BOI said.

In terms of geographical location, the three provinces in the Eastern Economic Corridor (EEC) area attracted 313 projects worth a total investment value of 109.4 billion baht, or 49% of the total applications filed during the nine months period.

Japan led the FDI source ranking with 139 projects

The number of foreign direct investment applications in the same period fell marginally to 657 projects, compared to 665 a year earlier, with a total value of 118.5 billion baht, 29% lower than in the year earlier period.

Japan led the FDI source ranking with 139 projects worth 37.5 billion baht, representing 32% of the total FDI applications value, followed by China which came with 129 projects worth 21.2 billion baht, and the Netherlands with 62 projects worth 17.5 billion baht.

Singapore came in fourth with 76 projects worth 12 billion baht, while Taiwan wrapped up the top five with 37 projects worth 9.5 billion baht.

The FDI applications contributed 60% of the total number of projects and 53% of total investment value pledges during the January-September period, the BOI said.

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National

Thailand to further ease COVID-19 restrictions

The Cabinet approved to ease the level of control over the country under the COVID-19 situation including relaxing businesses and activities in 4 areas.

National News Bureau of Thailand

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The Cabinet approved to ease the level of control over the country under the COVID-19 situation including relaxing businesses and activities in 4 areas.

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Economics

BoI plans more efforts to promote BCG economy

National News Bureau of Thailand

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BANGKOK (NNT) – The Board of Investment (BoI) is working with related agencies to rev up promotion of the bio-, circular and green (BCG) economy to help drive growth over the next 5 years.

BoI Secretary-General Duangjai Asawachintachit said the BoI is looking into more business categories for high technology as part of efforts to promote the BCG economy.

She said the government is focused on developing the bio-economy as Thailand has more than 30 million people working in the farm sector, yet most of them remain in poverty.

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Asean

ASEAN, Canada, UN Women launch 5-year programme to advance Women, Peace and Security Agenda

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Joint Press Release ASEAN, Canada, UN Women jointly launch 5-year programme to advance Women, Peace and Security Agenda
Jakarta/Ottawa/New York, 24 February 2021 – The Association of Southeast Asian Nations (ASEAN), Canada and UN Women jointly launched today a five-year programme to expand and strengthen women’s leadership and participation in conflict prevention, resolution and recovery in South-East Asia.

The CAD 8.5 million (US $6.36 million) programme, “Empowering women for sustainable peace: preventing violence and promoting social cohesion in ASEAN”, is funded by Global Affairs Canada to support ASEAN and the implementation of the ASEAN-Canada Plan of Action 2021-2025, with the support of UN Women as a lead UN partner.

“Canada is proud to launch this flagship initiative that uses the women, peace and security approach to promote inclusive and sustainable peace and security in the region, while addressing the systemic gender inequality,” said Diedrah Kelly, Canada’s Ambassador to ASEAN.

ASEAN has made important strides to advance women, peace and security agenda, including the adoption of the first ‘Joint Statement on Promoting Women, Peace and Security in ASEAN’ in 2017, the launch of the ASEAN Women’s Peace Registry in 2018, and convening the first ASEAN Symposium on Women, Peace and Security in 2019 and the ASEAN Ministerial Dialogue on Strengthening Women’s role for Sustainable Peace and Security in 2020.

Secretary-General of ASEAN Dato Lim Jock Hoi said, “ASEAN is working concertedly to advance women, peace and security agenda across the three ASEAN Community Pillars as part of our commitment to promote gender equality and the roles of women in the implementation of the ASEAN Comprehensive Recovery Framework.”

The COVID-19 impact has increased the risks for women and girls in fragile and conflict-affected contexts and this challenges us to re-examine threats to human security. “The pandemic highlights the important linkage between peace, humanitarian and development and the critical need for women’s leadership and participation to ensure effective and comprehensive response, from policy decision-making to peace building and pandemic response,” said Jamshed Kazi, UN Women Representative and Liaison to ASEAN.

The new programme reflects the commitment of ASEAN and Canada to promote gender equality and to respond to an increasingly widespread calls across the globe for women to be empowered to lead and participate in peace and development.

ASEAN includes Brunei, Cambodia, Indonesia, Lao People’s Democratic Republic, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Viet Nam.

For more information, please contact:
Montira Narkvichien
Regional Communications Specialist
UN Women Asia and the Pacific
Tel: +66 2 288 1579 | Mobile: +66 81 6688900 | Email: [email protected]

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