Slump In Southern Investment Projects

Slump in southern investment projects

SONGKHLA: -- Thailand's southern region has witnessed a sharp decline in the number of businesses requesting government investment concessions over the first quarter of the year, according to the director of the Board of Investment's (BOI) Songkhla investment centre.

Although Mr. Chamrat Sripasom did not attribute the 35 percent decline to the southern insurgency, it is likely that the continuing violence in the region has served to dampen investor confidence.

The first quarter figures show that BOI investment concessions were requested for 13 projects, worth an investment total of Bt5.244 billion.

The biggest investment project over the first quarter of this year was the construction of a Bt3.82 billion 5-star hotel in Phuket, while trailing behind in second place for a Bt436 million project to invest in Surat Thani's palm oil production industry.

The figures also showed that while the number of investment projects was equally divided between the upper and lower southern regions, the monetary value of the projects was considerably higher in the upper region, which has not been affected by the insurgency.

No requests were made for investment projects in Krabi, Nakhon Si Thammarat, Ranong, Phattalung, Narathiwat, Pattani or Satun

--TNA 2005-04-26