Thailand faces backlog of 200 foreign direct investment projects

Board-of-Investment-Thailand_AMThailand’s political turmoil over the last six months has caused a backlog of roughly 200 foreign investment projects awaiting government approval. The value is the equivalent of about $12.3 billion, a senior government official said on May 21.

Ajarin Pattanapanchai, deputy secretary general of the Thailand Board of Investment (BOI), expects the projects, each exceeding 200 million baht ($6.15 million) in value, will be cleared by August.

“It is around 400 billion baht… It will take about two to three months to clear it,” Ajarin was quoted as saying by Reuters.

Thailand has been without a proper government since December. As a consequence, the BOI board, which approves major investment applications, was not reappointed until last month. Its two-year term expired in October 2013.

According to the Commerce Ministry, commercial officials linked to Thai embassies worldwide have reported that their respective countries have expressed concerns over trading and investment in Thailand as the political crisis lessens their confidence, preventing them from sending business operators to the country.

The sentiment was shared by commerce attaches in Japan, US, Indonesia, Austria and the UK, according to reports.

An adviser to the Commerce Ministry, Ampawan Pichalai however is confident that the nation’s exports can still grow, thanks to the recovering global economy especially in the US, the European Union, Japan and in ASEAN. She said that the Ministry met with commerce officials attached to 64 Thai embassies around the globe on current obstacles to exports, adding that the Ministry expected to readjust the export target figure to reflect the current situation.



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Thailand's political turmoil over the last six months has caused a backlog of roughly 200 foreign investment projects awaiting government approval. The value is the equivalent of about $12.3 billion, a senior government official said on May 21. Ajarin Pattanapanchai, deputy secretary general of the Thailand Board of Investment (BOI), expects the projects, each exceeding 200 million baht ($6.15 million) in value, will be cleared by August. "It is around 400 billion baht... It will take about two to three months to clear it," Ajarin was quoted as saying by Reuters. Thailand has been without a proper government since December....

Board-of-Investment-Thailand_AMThailand’s political turmoil over the last six months has caused a backlog of roughly 200 foreign investment projects awaiting government approval. The value is the equivalent of about $12.3 billion, a senior government official said on May 21.

Ajarin Pattanapanchai, deputy secretary general of the Thailand Board of Investment (BOI), expects the projects, each exceeding 200 million baht ($6.15 million) in value, will be cleared by August.

“It is around 400 billion baht… It will take about two to three months to clear it,” Ajarin was quoted as saying by Reuters.

Thailand has been without a proper government since December. As a consequence, the BOI board, which approves major investment applications, was not reappointed until last month. Its two-year term expired in October 2013.

According to the Commerce Ministry, commercial officials linked to Thai embassies worldwide have reported that their respective countries have expressed concerns over trading and investment in Thailand as the political crisis lessens their confidence, preventing them from sending business operators to the country.

The sentiment was shared by commerce attaches in Japan, US, Indonesia, Austria and the UK, according to reports.

An adviser to the Commerce Ministry, Ampawan Pichalai however is confident that the nation’s exports can still grow, thanks to the recovering global economy especially in the US, the European Union, Japan and in ASEAN. She said that the Ministry met with commerce officials attached to 64 Thai embassies around the globe on current obstacles to exports, adding that the Ministry expected to readjust the export target figure to reflect the current situation.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Donation Total: $10.00