(26/12/2012)
 The
Office of the Board of Investment (BOI) reported that investment in
Thailand continued to grow in 2012, with the investment value between
January and November amounting to 936.2 billion baht.Industry Minister Prasert Boonchaisuk, who supervises BOI, said that the amount represents an increase of 64.6 percent over the same period of 2011. During the 11-month period, investors sought BOI promotional privileges for a total of 1,943 projects, an increase of 24.5 percent. Mr. Prasert said that the increase in terms of both volume and value have generated employment for at least 245,000 people. The industries with the highest investment value included service and public utilities, with 519 projects, worth 280.6 billion baht, followed by metal products, machinery, and transport equipment, with 492 projects, worth 214.7 billion baht. The chemical, paper, and plastic industries came third, with 254 projects, worth 186.5 billion baht. The electronic and electrical appliance industries ranked fourth, with 297 projects, worth 118.9 billion baht. The industries with the fifth highest investment value included agriculture and agricultural products, with 250 projects, worth 68 billion baht. These investment projects ranged from small businesses, with investment value of not over 20 million baht, to large businesses, with investment value of more than one billion baht. Large investment projects during the 11-month period were involved mainly with air transport, automobiles and automotive parts, electronics, alternative energy, and the setting up of product distribution centers. Mr. Prasert said that Thailand remained attractive to investors, who were confident in the country’s potential and its readiness to become an investment hub in the ASEAN region, after the realization of the ASEAN Economic Community (AEC) in 2015. According to BOI Deputy Secretary-General Ajarin Pattanapanchai, Japan remained the largest group of foreign investors in Thailand, with the highest number of applications, accounting for more than half of the total foreign investment during the period. Thailand is rated by the United Nations Conference on Trade and Development as the eighth most attractive location for foreign direct investment and by the World Bank as the 18th easiest place in the world to do business. Miss Ajarin believed that the realization of AEC would accelerate Thailand’s national development and further strengthen the country’s many competitive advantages. She explained that AEC would create a new single market with a combined population of 600 million people. This enlarged market is booming, with a young expanding middle class. It would enable free flows of goods, services, investment, skilled labor, and capital. In preparation for this situation, Thailand is improving and strengthening connectivity with neighboring countries. It is also in the process of implementing one of the region’s largest investment plans, covering water management and infrastructure development. When implemented, these investment projects will help develop the country as a transport and logistics hub in the region. |
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