BOI receives 612 investment promotion requests in first half of 2017
According to the Board of Investment of Thailand (BOI), more companies sought its support in the first half of this year, especially firms looking to invest in the Eastern Economic Corridor (EEC).
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During the first six months of 2017, private companies requested the BOI’s support for 612 investment projects worth 340 billion baht, 133 billion baht of which was to be invested in the 10 industries the government outlined for development in its economic policy.
The 10 targeted industries are digital technology, electricity and electronics, petrochemicals, automotive design, agricultural processing, public health, automation and robotics, aerospace, tourism, and textiles and garments.
150 projects worth 90 billion baht are to be implemented in the Eastern Economic Corridor.
The combined value of all projects seeking support in the first half amounted to a 15% increase year on year, which is in line with the development of the nation, reflecting the higher confidence among the investors. These projects are expected to be spearheaded in the next 2-3 years.
The BOI also disclosed that foreign direct investments (FDIs) in the first six months surged 24% compared to the same period last year. Japan is the number one investor, followed by Singapore, China, Hong Kong, and Taiwan.
