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Investment promotion applications drop in first 7 months

BANGKOK: -- The number of projects applying for investment promotions in the first seven months of 2009 year totalled 588, down from 701 in the corresponding period one year ago, according to Thailand’s Board of Investment (BoI).

Projects granted investment promotions in the first seven months of this year totalled 482, down from 888, with an investment value of Bt115.3 billion and combined registered capital of Bt15.3 billion.

Project investment amounted to Bt22.3 billion, down by 5.3 per cent from the previous year’s Bt234.7 billion.

Total registered capital dropped to Bt43.5 billion from Bt48.1 billion. Of this, Bt11.8 billion is registered by foreign investors, down from Bt27.1 billion, while Bt31.7 billion by Thai investors, up from Bt21 billion.

It resulted in employment dropping by 53.5 per cent to 49,584 workers from 106,628, or more than half.

The country most seeking investment promotions is Japan with 132 projects, followed by Europe, the United States, Singapore, Taiwan, and Hong Kong.

The largest number of businesses applying for investment promotion are in the service and public utility area with 212 projects, followed by agriculture, production, and electronics and electrical appliances.

Based on investment value, service and public utility businesses remain on top with Bt159.4 billion, followed by agriculture and production, metal products, machinery, and transport equipment.

-- TNA 2009-08-08