Published on 18/06/2013
BoI applications to reach B700bn in H1 Investment applications submitted to the Board of Investment (BoI) are estimated at 700 billion baht in the first half of this year, prompting the investment promotion agency to believe the full-year target of at least 1 trillion baht will be achieved. Industry Minister Prasert Boonchaisuk said the BoI passed a milestone of 500 billion baht in the first quarter and foresees 700 billion in applications for the first six months. The ministry and BoI projected direct investments of over 1 trillion baht this year, compared to last year's record of 1.479 trillion. Mr Prasert said Thai authorities have conducted road shows to draw foreign investors in Japan, South Korea, China, France and Germany, attracting 22 major applications worth 100 billion baht. The government will host Thai investors on trips to Poland, Turkey, Tanzania, Uganda, Italy, Switzerland and possibly Russia later this year. BoI secretary-general Udom Wongviwatchai said manufacturers from China are keen on using Thailand as a hub to distribute products across Southeast Asia. The country will attempt to match Chinese suppliers with Thai companies, focusing on the chemical product, agriculture and automotive sectors. "Chinese investors are also interested in the effective logistics system in Thailand. In their view, our logistics system is one of the best in the region," said Mr Udom. Thai authorities conducted 100 investment road shows last year. The itinerary was cut to 60-70 trips this year, including 10 headed by Prime Minister Yingluck Shinawatra, he added. The BoI plans to open an office in Mumbai next week. British authorities have expressed interest in a BoI office in London, but a final decision has not been made as there is already an office in Paris, said Mr Udom.
Mr Prasert said the automotive, energy, agriculture and chemical sectors are the focus of most foreign investors. The agency also encourages Thais to invest overseas.