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Published on March 13, 2008

"This shows investor confidence in setting up and expanding their business in the Kingdom," Satit Charnjava-nakul, secretary-general of the Board of Investment, said yesterday.

"I believe the government's policy to promote investment through the Thailand Investment Year campaign will boost investment to Bt1 trillion within two years," he said.

Foreign direct investment (FDI) accounted for 72 per cent of net applications in the first two months. Project value was Bt53.52 billion against Bt32.96 billion in the same period last year.

Most projects were for services and utilities, metal and logistics, electronic parts, chemicals, paper and plastics.

Of the 167 FDI applications filed in the first two months, 100 projects worth Bt22.04 billion were new, while the remaining 67 projects worth Bt31.47 billion were for expansion of existing facilities.

Japanese firms, the largest group of foreign investors, submitted 63 projects worth Bt10.95 billion, mostly for the service business, metal parts and auto parts.

Net FDI applications from Europe reached Bt9.07 billion, a threefold jump from last year. Most of the European investors were interested in expanding chemical businesses or establishing motorcycle plants here.

Chalida Ekvitthayavechnukul

The Nation