BoI applications almost B1 trillion

BoI applications almost B1 trillion

Applications for Board of Investment (BoI) privileges from January to November this year topped 936.2 billion baht, Industry Minister Prasert Boonchaisuk said on Tuesday.

The number of projects rose from the same period last year by 24.5% to 1,943, underscoring investor confidence in Thailand's prospects. The investment worth was up 64.6%, from 568.9 billion baht reported over the same period last year, the minister said.

The investment projects were expected to create at least 245,073 jobs, he added.

Services and utilities accounted for the biggest share by value, with 519 projects and investment capital of 280.6 billion baht, Mr Prasert said.

Metal and transportation equipment industry came second, with 492 projects and a combined investment cost of 214.7 billion baht, followed by the chemicals, plastic and paper industry, with 254 projects and a total capital of 186.5 billion baht.

Electronics and electrical appliances took the fourth rank, with 297 projects and investment capital of 118.9 billion baht.

Fifth was the agriculture and agricultural products sector, with 250 applications and a total investment cost of 68 billion baht.

Applications for investment privileges have been increasing since the beginning of the year on the back of investors’ confidence in the country’s economic fundamentals and potential for becoming an investment hub of the region when the Asean Economic Community debuts in 2015, the minister said.

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