Thailand Foreign Investment Applications Increase This Year

Despite political turbulence in Thailand since the bloodless coup which ousted an elected government last September 19, the number of application seeking promotional privileges from the state-run Board of Investment (BoI) by foreign investors has increased this year, a senior BoI official said.

Sudjit Inthaiwong, deputy secretary general of the BoI, said the number of foreign investment applications for BoI incentives rose 18 per cent since the beginning of 2007 up until now compared to the same period of 2006, reflecting confidence of foreign investors in Thailand.

However, combined investment fell when compared to last year as most of the projects seeking promotional privileges were medium-sized projects, she said.

Most foreign investors were interested in the country’s investment policy rather than politics, said Miss Sudjit.

Since the beginning of this year, Japanese investors remained top foreign investors seeking promotional privileges from the BoI followed by the US and the European Union, she said.

It is forecast that this year’s foreign investment applying for the privileges would total Bt500 billion after investment of approximately Bt300 billion in value was applied during the first half of 2007, she said.

BoI officials, she said, will embark more on offensive strategy by inviting more foreign investors to invest in Thailand and to also ask existing foreign investors to expand their investment in the country.