Int'l investment funds in Thailand increase five folds in Q1

BANGKOK, April 21 (TNA) - The Board of Investment of Thailand (BOI) has approved promotional privileges to 793 international investment projects, totally worth 217.56 billion baht, in the first quarter of this year, five times higher than the 34.65-billion-baht value in the corresponding period last year. BOI Acting Secretary-General Hirunya Suchinai told journalists of the information on Tuesday, expressing her confidence that the approved investment projects will help stimulate the national economic growth this year. The BOI acting chief elaborated that 176 out of the totally-approved projects in the first three months of this year, worth 60.57 billion baht, were in the service and public utility sector, 98 projects, worth 56.13 billion baht, were in the electronic and electrical sector, 179 projects, worth 35.85 billion baht, were in the chemical, plastic and paper sector, 145 projects, worth 29.88 billion baht, were in the metal, machinery and transport sector, 139 projects, worth 19.79 billion baht, were in the agricultural sector, 43 projects, worth 10.12 billion baht, were in the light industrial sector, and 13 projects, worth 5.21 billion baht, were in the mineral, ceramic and basic metal sector. Meanwhile, Arkhom Termpittayapaisith, Secretary-General to the National Economic and Social Development Board (NESDB), told a press conference to publicly report NESDB's performance over the first six months in office of the interim Thai government of Prime Minister General Prayut Chan-ocha, that the national economy has been expanding since early this year, as restored order in the country has boosted domestic consumption, investment and tourism. Arkhom, who is also Deputy Transport Minister, stated that NESDB has, thus, expected Thailand's gross domestic product (GDP) should grow by 3 per cent in the first quarter of this year and 3.5-4.5 per cent on average throughout this year. (TNA)