Investment promotion applications worth 210bn baht in 2022 first half: BOI

BANGKOK (NNT) - Several businesses applied for investment promotion packages covering projects worth more than 210 billion baht in total during the first half of this year, with substantial growth reported in the automotive and digital parts industries, according to the country’s investment board.

The Board of Investment of Thailand (BOI) said a total of 784 projects applied for investment promotion packages in the first 6 months, a 4% year-on-year increase. However, the total value drops 42% from last year, during which applications for large-scale energy projects were submitted.

Foreign direct investment projects, at 395, made up for almost half of the projects submitted to the BOI in the first half of this year, with a total value of 130 billion baht. Investments from Taiwan at 36.1 billion baht made up the majority.

A total of 217 projects submitted will be taking place in the Eastern Economic Corridor, with a total of 104.85 billion baht investments. Rayong will be hosting 86 of these projects worth 85.5 billion baht, followed by 110 projects in Chonburi worth 16.69 billion baht, and 21 projects in Chachoengsao worth 2.66 million baht.

The BOI has approved investment promotion packages for four large-scale projects, namely a 17.89 billion baht battery operated and plug-in electric car manufacturing by a Chinese company, 18 billion baht natural gas production by Thailand’s state-owned PTT Plc., and two maritime transport projects by Thitti Bhum and Santi Bhum companies, each worth 4.31 billion.

Source: https://thainews.prd.go.th/en/news/detail/TCATG220818003224335