New projects seeking Thailand's promotional privileges likely to reach Bt700b in 2014

NONTHABURI, THAILAND, December 15 (TNA) - The value of new investment projects seeking promotional privileges from the Thai government is expected to reach 700 billion baht this year, as targeted. Thai Prime Minister General Prayut Chan-ocha aired the expectation at a seminar on investment promotional strategies for sustainable economic development, held in Muang Thong Thani on the outskirts of Bangkok on Monday. The prime minister said his government is promoting new international investment projects, including those on technological transfers and increase in product values, while also supporting local small and medium-sized enterprises (SMEs) through joint investment funds. The prime minister also pointed out that international tourist arrivals in Thailand have been picking up and, when infrastructure development and measures to support farm products are included, the Thai economy should grow by 3.5-4.5 per cent next year. The prime minister noted that the Thai economy has been generally recovering although the recovery remains slow and his government is, thus, promoting investment to stimulate the national economy. Meanwhile, Deputy Prime Minister MR Pridiyathorn Devaluka suggested that there should be new activities to attract more investment, including tax exemption and reduction, to encourage international businesses to open their regional offices in Thailand. (TNA)