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BoI confident of sustained growth


January 18, 2008

BoI confident of sustained growth

Thailand's state-operated Board of Investment (BoI) is optimistic that investment in the kingdom this year will continue to grow despite concerns over the US economy and Thailand's political problems, according to BoI secretary-general Satit Chanjavanakul.

Investment projects seeking promotional privileges from the BoI in 2008 are expected to exceed Bt500 billion because industrial investors  prefer to look   at long-term investment prospects rather than short-term problems, said Mr. Satit.

Most importantly, investment in vital industries in the country continues in sectors such as the upstream steel industry, independent power programmes, the mass transit rail system, and several projects with environmental problems at Map Ta Phut industrial estate, such as energy-related industries, Mr. Satit said.

On planned investment in the upstream steel industry which is now valued at several tens of billions of baht, he said two major investors have expressed interest in investing as Thailand still needs much steel for use in related industries.

According to statistics released by BoI, 1,318 investors sought  promotional privileges  from the agency   in 2007 with a combined investment of Bt655.8 billion, up about 32 per cent from 2006. Of the total, there were a total of  846 foreign direct investments having a total value investment of Bt502.737 billion, an increase of 63 per cent from 2006.

Investment  programmes which were most attractive for investment in 2006 were service and public utilities   followed by vehicles and parts, and the petrochemical industry.

Courtesy TNA

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