Applications for Board of Investment (BoI) privileges will likely top 500 billion baht this year if they continue at the rate of 40 billion baht a month.
The BoI yesterday reported better-than-expected data for the investment climate in the January-May period, with applications from projects worth 208 billion baht, up by 25.3% year-on-year.The number of applications also increased by 51% to 725 projects.
The total investment value included 184 projects worth a combined 63 billion baht in the metal and machinery sectors, 154 projects worth 42 billion in the service and infrastructure sectors, 99 projects worth 37 billion in the chemical, paper and plastics sectors and 108 projects worth 28 billion baht in the electronics and electrical appliances sectors.
Secretary-general Atchaka Sibunruang credited the increase to greater confidence among foreign investors.
Policies encouraging businesses to switch to more energy-saving machinery contributed to the rise in investment.
The number of applications from small and medium-sized enterprises (SMEs) rose by 178% year-on-year to 92 projects. Investment value totalled 3.7 billion baht, up from only 593 million baht in the same period last year.
Foreign direct investment in the first five months totalled 431 projects worth 141 billion baht including 221 projects by Japanese investors worth 157 billion. Chinese investors ranked second, investing 20.5 billion baht including a 19-billion-baht tyre factory.
The BoI yesterday approved nine projects worth a combined 20.92 billion baht. They were steel billet production expansion by Tycoons Worldwide Group (Thailand) Plc (1.65 billion baht), beverage glass production by Siam Glass Ayutthaya (1.49 billion), automobile lamps by Thai Koito (1.12 billion), four petrochemical projects worth 9.74 billion baht, a eucalyptus pulp venture by 304 Pulp (6.07 billion baht) and a biogas power plant by A.T. Tri Econergy (850 million baht).
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