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FDI surges in January and Februarya


March 14, 2008

FDI surges in January and February

Thailand saw a 62.4 percent increase in foreign direct investment (FDI) in the January-February period totaling 53.52 billion baht, with the Japanese players becoming the country’s top investors, according to the Board of Investment (BoI).

The number of FDI projects seeking promotional privileges during January and February totaled 167 with an investment value of 53.52 billion baht compared with 32.96 billion baht in the corresponding period during the previous year, Thai News gency quoted BoI Secretary-General Sathit Charnchaovakul as saying.

FDIs account for 72 percent of the total 232 projects with an investment value of 103.4 billion baht in the first two months of this year. FDI in new businesses totaled about 100 projects with an investment value of 22.04 billion baht. The remaining 67 projects involve business expansion with an investment value of 31.47 billion baht.

Japanese remained top investors in 63 projects with investment value of 10.95 billion baht. Most are in services, metal parts production, and vehicle industries. FDI from Europe totaled 9.07 billion baht, up three times from the same period the year before Investment projects with the highest value are in the chemical product and motorcycle production industries.

Businesses that drew the greatest attention include services and public utilities, followed by metal and transport equipment, electronic parts, chemical products, paper and plastics.

"The increased FDI reflects investor confidence in investment in Thailand," Sathit said. "We believe the government's clear policy to promote investment, particularly its designation of this year as Thailand Investment Year will help boost investment growth," he said.

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