The Nation

business

Smaller
Larger
BoI

BoI investment applications healthy in Q1

Despite the prolonged political stalemate, applications for Board of Investment privileges during the first quarter came in at Bt234 billion, led by automotive and auto components, petrochemicals and power-generation plants.

Despite the prolonged political stalemate, applications for Board of Investment privileges during the first quarter came in at Bt234 billion, led by automotive and auto components, petrochemicals and power-generation plants.

Foreign projects that applied for BOI privileges rose by 28 per cent in value, year on year, in the first three months.

BOI secretary-general Udom Wongviwatchai said 291 projects with a combined investment value of Bt234 billion had applied during the quarter, down 48 per cent from 564 projects in the same period last year.

The overall investment value of Bt234 billion was 10 per cent down on Bt261 billion a year ago.

However, investment value in the automotive/components and machinery sectors surged by 265 per cent year on year to Bt157 billion, mainly because of eco-car Phase 2 projects.

Investment value in the services and utilities sector also increased, to Bt31.4 billion, while petrochemicals, paper and plastics industries projects seeking BOI privileges amounted to Bt23.2 billion.

The investment value of electronics and electrical appliance-related projects reached Bt11.9 billion.

Other major industrial projects seeking BOI investment privileges were in the power-plant sector.

The BOI believes that with this level of activity in the first quarter, the full-year target of Bt900 billion can be achieved, Udom said.

Meanwhile, the value of foreign direct investment in BOI projects the first quarter rose 28 per cent to Bt201.97 billion, although the number of projects dropped 41 per cent to 197, he added.

Japan continues to lead other foreign investors seeking privileges, with 96 projects valued at Bt61.13 billion - down 30 per cent and 45.4 per cent, respectively - followed by the United States, China and South Korea, whose investments rose considerably in value during the quarter to Bt41.06 billion, Bt9.4 billion and Bt9.37 billion respectively.


Comments conditions

Users are solely responsible for their comments.We reserve the right to remove any comment and revoke posting rights for any reason withou prior notice.