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Published on August 29, 2007

Deputy secretary-general Thamrong Mahajchariyawong said total investment from China increased considerably because its government had encouraged businesses to invest in countries worldwide.

Chinese operators are mostly interested in investing in the alternative energy, electronic parts and auto-parts industries in the Kingdom.

He said Chinese investors had spent US$5.5 billion (Bt189 billion) to expand their businesses globally in 2004 and they raised their investments abroad to $12.3 billion in 2005. The Chinese businesses spent half of their total investment abroad on merging and acquiring local companies in other countries, he added.

Chinese investment here was higher than Thailand's investment in China over the past two years. The Kingdom invested $144 million in China last year, while Chinese operators invested  around $324 million in Thailand, he said.

Meanwhile, the BoI reported total applications for tax incentives during October 2006 to July 2007 worth Bt280.72 billion, an increase of 18.2 per cent from the previous fiscal year.

Japanese firms submitted the most investment applications, for Bt107.775 billion, up 19.3 per cent from the same period last year.

Following Japan, the United States recorded net applications worth Bt26.313 billion. European countries submitted net applications of Bt21.851 billion.

So far, the BoI has attracted foreign investors by focusing on industries that are necessary for the country, Thamrong said. Those industries include automotive, electronics, agro-products and ethanol.

The BoI plans to stage another 11 road shows during the rest of the year in China, Indonesia, India, the United States, Denmark, Finland and Germany, he added.

Chalida  Ekvitthayavechnukul

 The Nation