Thai investment bids reach record high

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Thailand’s Board of Investment Secretary-General Udom Wongwiwatchai

Applications for investment incentives in Thailand have reached a record level of nearly $48 billion in 2012, the country’s Industry Ministry announced on January 10.

Industry Minister Prasert Boonchaisuk said the investment promotion value increased 131 per cent year-on-year, while the number of projects rose 29.7 per cent also year-on-year.

More than 50 per cent of the investment applications came from Japan, followed by the Netherlands and Singapore. Following approved projects, around 348,000 persons were hired, a 61 per cent increase compared to 2011.

For 2013, Thailand has set a promotion investment target of up to $23.3 billion, lower than the 2012 target, as many investors applied for investment promotions in 2012 because investment promotions were ending at the year-end.

The new Secretary-General of the Thai Board of Investment, Udom Wongwiwatchai, said a new investment promotion will be finished by the middle of 2013 and will continue to support high value-added industries and labour-intensive industries.

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Reading Time: 1 minute

Thailand’s Board of Investment Secretary-General Udom Wongwiwatchai

Applications for investment incentives in Thailand have reached a record level of nearly $48 billion in 2012, the country’s Industry Ministry announced on January 10.

Reading Time: 1 minute

Thailand’s Board of Investment Secretary-General Udom Wongwiwatchai

Applications for investment incentives in Thailand have reached a record level of nearly $48 billion in 2012, the country’s Industry Ministry announced on January 10.

Industry Minister Prasert Boonchaisuk said the investment promotion value increased 131 per cent year-on-year, while the number of projects rose 29.7 per cent also year-on-year.

More than 50 per cent of the investment applications came from Japan, followed by the Netherlands and Singapore. Following approved projects, around 348,000 persons were hired, a 61 per cent increase compared to 2011.

For 2013, Thailand has set a promotion investment target of up to $23.3 billion, lower than the 2012 target, as many investors applied for investment promotions in 2012 because investment promotions were ending at the year-end.

The new Secretary-General of the Thai Board of Investment, Udom Wongwiwatchai, said a new investment promotion will be finished by the middle of 2013 and will continue to support high value-added industries and labour-intensive industries.

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