The project is aimed at decreasing risk for Thai investors following several negative factors, including the strengthening baht, rising labour costs and raw-material shortages.

Export Promotion Department director-general Rachane Potjanasuntorn said the plan would not only encourage Thai investors to venture abroad, but also boost the Kingdom's economic growth.

The promotion of offshore business activity will create a surplus from the strong baht and export benefits.

Condo to rentals

Akando, a 49:51 Irish-Thai property joint venture, has turned 98 unsold units in its FP condominium project into rental units, due to political instability and the amended Foreign Business Act.

FP, in Bangkok's Lat Phrao district, was launched last year consisting of 275 units starting at Bt1.35 million. Thirty of the unsold units have been rented out.

It will also delay the launch of two projects to next year, to await a new government.

Egg-white drink

Charoen Pokphand Foods will soon launch an egg-white drink - a low-fat, high-energy product especially popular with athletes.

Executive vice president Prajit Udnoon yesterday said the company was seeking to turn an egg surplus into a higher-value product while reducing the problem of falling egg prices.

The product will also reduce imports of egg-white liquids used in the bakery industry. However, the company's total production of liquid egg whites accounts for only 2 per cent of the country's total egg production, compared with 20-30 per cent in the US and Europe.

Prajit said the egg-white liquid would strengthen athletes' muscles.