Value of Investment Projects Seeking Promotional Privileges Expected to Reach 900 Billion Baht

BANGKOK, May 1 (TNA) – Thailand’s caretaker Industry Minister Prasert Boonchaisuk on Thursday voiced his confidence that the value of investment projects seeking promotional privileges from the Board of Investment of Thailand (BOI) will reach 900 billion baht this year as expected. After a meeting with the new BOI, Mr Prasert said that representatives of important economic organizations including the Japan External Trade Organization reported that investors had confidence in Thailand and proposed a large number of projects to seek promotional privileges. As of April 30, 407 investment projects worth 729 billion baht were proposed to apply for promotional privileges from the BOI. The minister considers the figures as very high. “The Election Commission’s decision to organise the polling on July 20 should be a positive sign. I am confident that the target of the BOI to see applications for promotional privileges for investment projects worth 900 billion baht throughout this year should be achievable,” the industry minister said. Categories of industries are prioritized for promotional privileges. They are the agro-industry, mining, ceramics, light industries, metal products, machinery, automobiles, electrical and electronic appliances, chemical products, paper, plastics, services and infrastructures. Many projects filed to seek promotion privileges concern infrastructures including water and air transportation, power plants and eco car production. In the first three months of this year, about 200 investment projects worth over 260 billion baht were proposed to seek promotional privileges. The number of such projects dropped by 13% year-on-year but is satisfactory under the present circumstance, according to Mr Prasert. (TNA)