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BoI sees slower investment growth in 2008


July 27, 2008

Thailand: BoI sees slower investment growth in 2008
Private investment in Thailand with promotional privileges from the Board of Investment (BoI) in 2008 is now estimated at 300 billion baht, about half of the agency’s planned target, Thai News Agency (TNA) quoted Chakkamon Phasukvanich, Permanent Secretary, Ministry of Industry as saying.

The agency had projected private investment with BoI privileges this year would be at least Bt600 billion, how it has now cut the forecast by half due to a number of negative factors, including the sluggish economy, rising inflation, the sub-prime lending crisis in the US, soaring oil prices and the appreciation of the Thai baht.

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Despite these problems, foreign investors have not moved their production bases from Thailand during the first half of 2008, said Chakkamon. Foreign business interests, especially the Chinese, still find Thailand an attractive investment destination, he said.

However, existing investors are asking the Thai government to help solve a number of problems facing business operators, including Thailand’s political turbulence and the lack of coordination among concerned government agencies, for example, regarding energy saving measures.

Chakkamon said he believed more investment could be seen in the second half of this year if political problems ease and government policies become more transparent but still less than the corresponding period of 2007.

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