Thailand Board of Investment: Investment applications to reach B600bn target

The Board of Investment is confident overall applications for investment privileges will reach the target of 600 billion baht in 2017, according to BoI secretary-general Hiranya Suchinai.

In the first half of this year the investment promotion agency had received applications for 612 projects with combined investment value of 291.79 billion baht, Ms Hiranya said.

Sixty percent of the applicants, with 372 projects worth a total of 141 billion baht, were foreign investors. Japan was still the largest investor with 117 projects worth 65.4 billion baht, followed by Singapore (45 projects,15.3 billion baht) and China (35 projects, 7.13 billion baht).

The BoI board meeting, chaired by Prime Minister Prayut Chan-o-cha, on Thursday morning approved privileges for five investment projects with a total value of 128 billion baht. 

Toyota Motor Thailand Co received approval for its 19-billion-baht project for the production of hybrid electric vehicles with capacity of 70,000 units a year, plus 70,000 batteries for electric vehicles and 9.1 million automobile parts.

Triumph Motorcycle (Thailand) Co received support for a 3.36 billion baht project to produce 120,000 motorcycles of more than 500cc.

Bangkok Express and Metro Plc were allowed incentives for a 22-billion baht investment in the extension of the underground Blue Line rail route Hua Lam Phong-Bang Sue and Bang Sue-Tha Phra, with a total distance of 27 kilometres.

Northern Bangkok Monorail was given approval for its 46 billion baht, 34.5km Pink Line rail linking Kae Rai and Min Buri. 

Eastern Bangkok Monorail Co got the support to develop 30.4km of the Yellow Line rail linking Lat Phrao and Samrong in Samut Prakan. 

Ms Hiranya said the approval of 340 billion baht of investment in the first half of 2017 will create more than 33,000 jobs for Thai workers. They are projected to use about 288 billion baht of local raw materials and generate exports of 200 billion baht a year. 

Source: http://www.bangkokpost.com/business/news/1295102/boi-investment-applications-to-reach-b600bn-target