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Industry Minister Pracha Promnok intends to give priority to eco-car investment rather than promoting E85-compatible cars.

"We don't mean that we will ignore promoting E85-compatible cars, but we should resolve all limitations and make it have the softest effect on eco-car investment," he said on his first day in office after he gave his policy to officials.

The Board of Investment (BoI) has approved six eco-car projects worth about Bt80 billion, pushing indirect investment in supporting industries to more than Bt100 billion.

"I recently met cane growers in Udon Thani province who would like me to promote E85-compatible cars. Although our main strategy is to produce eco-cars, we still want to have E85-compatible cars as a choice for buyers in the domestic market," Pracha said.

He said investment applications this year should total less than Bt500 billion, missing the earlier target of Bt600 billion, due mainly to the global economic slowdown and the country's murky economic and political climate.

"We will set up the BoI's board and sub-board as soon as possible to accelerate approving net applications, which are lying in the pipeline and are worth about Bt200 billion, in the last three months of this year," he said.

Pracha said he would coordinate with the National Economic and Social Development Board (NESDB) to propose a development plan for the Southern Seaboard to the Cabinet as soon as possible. If this plan makes good progress, it will encourage aggressive investment.

The NESDB has identified Chumphon and Prachuap Khiri Khan provinces as appropriate areas for development. It has to wait for the Cabinet's resolution and environmental impact assessments before developing infrastructure.

Pracha is a member of the Puea Pandin Party led by former industry minister Suwit Khunkitti. Pracha told the press that he would carry on Suwit's policies, including Thailand Investment Year 2008-09. He will also invite Suwit to be his honorary adviser on investment promotion overseas.