Thailand expects investment applications worth 1 trillion baht

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bangkok-bridge-chao-phrayaInvestment applications to Thailand’s Board of Investment (BOI) in 2013 would be at least 1 trillion baht ($32 billion), up from the previous target of 700 billion baht, the country’s industry ministry Prasert Boonchaisuk said in a statement released on June 17.

He added that applications from January to April 2013 already reached 500 billion baht.  The reasons for the heavy interest were due to local and foreign investors’ confidence in Thailand’s strong fundamentals, the governments 350-billion-baht water management scheme, its infrastructure construction project of 2 trillion baht, as well as the connectivity policy of economic corridors linking roads from Thailand to neighbouring countries, Boonchaisuk added.

Currently, there are 28 project applications from the private sector to set up industrial areas, expected to be complete in 2015, of which 18 projects were of small- and medium-sized enterprises with a total investment budget of 21.2 billion baht, aiming at creating 530,000 jobs.

The BOI is currently working on implementing a new investment promotion scheme scheduled to be completed by December 2013 , and to be enforced on 1 January 2015, leaving an adjustment period for investors of 1 year. The scheme will be a change from the previous zoning–based policy.

The new investment promotion scheme will focus on 10 target industries:

1. infrastructure and logistics series,

2. primary industries,

3. medical and scientific equipment,

4. renewable energy and environmental services,

5. business support services industries,

6. advanced core technologies,

7. food and agricultural processing,

8. hospitality and wellness,

9. automotive and other transport equipment, and,

10. the electronics and appliances industry.

In addition, incentives will be given to new regional industry clusters such as food processing industries.

 

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Reading Time: 1 minute

Investment applications to Thailand’s Board of Investment (BOI) in 2013 would be at least 1 trillion baht ($32 billion), up from the previous target of 700 billion baht, the country’s industry ministry Prasert Boonchaisuk said in a statement released on June 17.

Reading Time: 1 minute

bangkok-bridge-chao-phrayaInvestment applications to Thailand’s Board of Investment (BOI) in 2013 would be at least 1 trillion baht ($32 billion), up from the previous target of 700 billion baht, the country’s industry ministry Prasert Boonchaisuk said in a statement released on June 17.

He added that applications from January to April 2013 already reached 500 billion baht.  The reasons for the heavy interest were due to local and foreign investors’ confidence in Thailand’s strong fundamentals, the governments 350-billion-baht water management scheme, its infrastructure construction project of 2 trillion baht, as well as the connectivity policy of economic corridors linking roads from Thailand to neighbouring countries, Boonchaisuk added.

Currently, there are 28 project applications from the private sector to set up industrial areas, expected to be complete in 2015, of which 18 projects were of small- and medium-sized enterprises with a total investment budget of 21.2 billion baht, aiming at creating 530,000 jobs.

The BOI is currently working on implementing a new investment promotion scheme scheduled to be completed by December 2013 , and to be enforced on 1 January 2015, leaving an adjustment period for investors of 1 year. The scheme will be a change from the previous zoning–based policy.

The new investment promotion scheme will focus on 10 target industries:

1. infrastructure and logistics series,

2. primary industries,

3. medical and scientific equipment,

4. renewable energy and environmental services,

5. business support services industries,

6. advanced core technologies,

7. food and agricultural processing,

8. hospitality and wellness,

9. automotive and other transport equipment, and,

10. the electronics and appliances industry.

In addition, incentives will be given to new regional industry clusters such as food processing industries.

 

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