BANGKOK, Sept 22 – The number of foreign direct investment (FDI) projects applying for investment promotions reached 679 with a total investment value of Bt215.4 billion in the first eight months of 2011 (January-August), according to Industry Minister Wannarat Channukul.
The number of projects surged by 28.8 per cent from 527 year-on-year, while foreign countries’ investment value edged up by 76.4 per cent from Bt122.1 billion, the minister said, citing Thailand Board of Investment (BoI) figures.
Japanese investors remained the top group of players in terms of the number of projects and investment value.
In the first eight months of this year, the number of projects from Japan seeking investment promotions reached 361 projects, a 60.4 per cent rise from 225 projects year-on-year, with an investment value of Bt104.7 billion or a 110.7 per cent increase from Bt49.7 billion compared to the same period last year.
Chinese investors ranked second, seeking promotions valued at Bt24.8 billion, up 205.1 per cent from Bt8.1 billion year-on-year.
Singapore investors came third in applying for promotions for 38 projects with an investment value of Bt17.5 billion, up 101.9 per cent from Bt8.6 billion from the same period the year before.
Investment from Hong Kong ranked fourth, applying for promotions valued at Bt11.3 billion, an increase of 206.6 per cent from the same period last year at Bt3.6 billion, while Taiwanese investors came last with applications of investment value of Bt5.6 billion, up 120.1 per cent from Bt2.5 billion year-on-year.
The industry minister said that Thailand has attracted more foreign direct investment reflected the country’s potential to be the hub of productions and exports, particularly industrial goods, to other countries in the Association of Southeast Asian Nations (ASEAN).
Mr Wannarat said he was certain foreign investment in Thailand will continue to expand, especially from China.
His ministry has led a group of Thai entrepreneurs to southern China’s Guangzhou, the capital of Guangdong province, to participate in the 8th China International SME Fair (CISMEF) 2011. The event, held from Sept 22-25 and which Thailand was invited by China to be the co-host this year, is expected to help boost confidence of more Chinese investors to invest in Thailand, Mr Wannarat said.
Meanwhile, Board of Investment (BoI) Secretary-General Atchaka Sibunruang said investment projects said businesses for which investors seek promotional privileges the most were those of no more than a Bt100 million investment, counting as 57.7 per cent of the overall investment promotion applications. Most investment belonged to business expansion for 346 projects with investment value at Bt126 billion.
Businesses with the highest investment value include vehicle manufacturing, machinery and metals with 233 projects and value of Bt81.7 billion; electronic products and electric appliances with 135 projects and a value of Bt46 billion; service and public utilities with 120 projects and investment value of Bt32.2 billion; chemical products, paper and plastic with 71 projects and investment value of Bt25.3 billion; and processed agricultural products with 51 projects and a value of Bt10.7 billion, respectively.
