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Published on August 13, 2007

Satit Charnjavanakul, secretary-general of the Board of Investment (BoI), said last week that the country's overall investments this year should be satisfactory, thanks to the steady flow of investment from local and foreign firms.

"The withdrawal of the Foreign Business Act amendment will not affect total net investment applications because overseas investors can hold 100 per cent stake in companies promoted by the BoI," he said.

While the political and currency risks would be the issues most foreigners pay most attention to, it will not seriously impact the Kingdom's investment expansion, he said.

Foreign direct investment (FDI) in the first seven months totalled Bt183.5 billion, up from Bt152 billion in the same period last year.

Net investment applications for 756 projects were worth Bt272.5 billion, increasing from 728 projects worth Bt211 billion in the same period last year.

"The net applications show Thailand's investment projects are going well despite the economic slowdown," he said.

Of the total applications, Bt66 billion came from the infrastructure and service sector, a big jump from Bt37.1 billion in the same period last year. Net applications for the petrochemical, paper and plastics industries were worth Bt60.7 billion, dropping slightly from Bt65.2 billion.

Net applications for electronics and electric appliances also declined from Bt48.5 billion to Bt45.1 billion. However, net applications for machinery and logistics equipment jumped 30.7 per cent from Bt32.2 billion a year ago.

Net applications for mines and ceramics rose to Bt21.7 billion, from Bt3.1 billion last year.

The industries to see rapid expansion would be automobile, electronics, petrochemical, steel and ethanol, he added.

Chalida Ekvitthayavechnukul

 The Nation