Khon Kaen had the largest number of applications for investment privileges in 2012, at 29 projects with a total investment cost of 15.60 billion baht, Rattanavimolnaree Sukreeketh, director of the Board of Investment Region 3 Office, said on Wednesday.
The BoI Region 3 Office oversees 12 provinces in the upper part of the Northeast.
Udon Thani ranked second, with its 14 investment projects, followed by Nong Khai (8 projects), Loei (5 projects), Sakon Nakhon (4 projects), two projects each in Kalasin, Mahasarakham, Roi-Et, Nakhon Phanom and Bueng Khan, and Mukdahan (1 project), she said.
Ms Rattanavimolnaree expected BoI applications to further grow in the upper part of the Northeast on the back of the government’s stimulus measures, including the rice pledging scheme, the first time car-buyer programme, and the reduction of corporate income tax to 23%.
The government’s investment in water resource management and flood control projects and the proposed high speed train project linking Bangkok and provinces in the Northeast would also help spur private investment in the region, she added.
A total of 71 applications for BoI privileges were approved in the upper provinces of the Northeast in 2012, up 57.78% from 2011. Investment cost totalled 27.07 billion baht, an increase of 198.37% from 2011, according to the director.
However, the employment rate in the region was down from 2011 by 17.92%, showing that manufacturers began to adapt to the rising labour cost caused by the government’s 300 baht daily wage nationwide policy, she said.