Minister: Roadshows paying off

Minister: Roadshows paying off

Investment activity ignoring political strife

Despite the simmering political strife, the government remains upbeat about this year's investment outlook, with a myriad of international roadshows held earlier beginning to bear fruit.

Prasert: Yingluck a tireless crusader

Industry Minister Prasert Boonchaisuk said international roadshows and official visits to several countries by Prime Minister Yingluck Shinawatra over the last two years have played a part in bolstering confidence among foreign investors.

He said 140-150 billion baht worth of investments in the first half of this year came from the countries where the premier had paid a visit and chaired international roadshows over the last two years.

In the first half, operators of projects worth a combined 633 billion baht applied for investment privileges, up by 47% year-on-year.

The number of projects also surged 5.8% to 1,055, said the Board of Investment (BoI).

However, foreign direct investment was flat at 279 billion baht for 619 projects.

During the period, the service and infrastructure sectors ranked top in terms of investment value.

A total of 256 project applications were submitted to the BoI for investment totalling 302 billion baht, up by 190% year-on-year.

There were 227 projects in the machinery and automotive industry for investment of 148 billion baht, followed by agriculture with 243 projects worth 88 billion.

The Japanese remained the largest foreign investors in Thailand during the period, with an outlay of 184 billion baht for 333 projects, followed by those from Malaysia, Hong Kong and Singapore.

The BoI projected the application value may reach 1 trillion baht this year.

Since taking office two years ago, Ms Yingluck has led trade missions and international roadshows to India, Japan, South Korea, China, Australia, France, Britain, Bangladesh, Bahrain, Qatar, New Zealand, Papua New Guinea, Germany, the US, Kuwait, Sweden and Belgium among others.

A BoI report showed the international roadshow headed by the prime minister to India from Jan 24-26, last year prompted India's leading tyre manufacturer, Apollo Tyres, to invest 14.7 billion baht in auto tyres in Thailand.

Her trip to Japan from March 6-10, 2012 reportedly drew investment from Japanese firms for nine projects with a total value of 118 billion baht.

Most of this Japanese investment has come from automotive companies already present in Thailand.

According to the BoI, six South Korean projects worth a combined 6.29 billion baht applied after Thailand's roadshows in that country from March 25-28 last year.

Ms Yingluck's visit to China from April 16-20 last year also prompted China's biggest car maker, Shanghai Automotive Industry Corporation, to form a joint venture with Charoen Pokphand Group to set up a manufacturing base in Thailand.

A trip to France from July 19-22 in the same year also attracted investment from Michelin and blank-DVD and -VCD maker MPO France.

The BoI said the prime minister's visit to Britain last Nov 13-14 also drew Triumph Motorcycles to invest 650 million baht in motorcycle manufacturing in Thailand.

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