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Foreign investors plan to invest over Bt130 billion next year: BoI

BANGKOK: -- Foreign investors demonstrated increased confidence in investments in Thailand in the first half of this year with many planning to invest over Bt130 billion in all Thai industries next year, according to Board of Investment (BoI) Secretary-General Atchaka Sibunruang.

She said the BoI has acknowledged an opinion survey conducted at random of 686 foreign companies in Thailand using questionnaires during February-July 2010.

It found foreign investors in Thailand have more confidence in all business areas this year than last year, evidenced by an increase in the confidence index to 71.9 per cent in 2010 from 41.5 per cent in 2009.

The survey showed more than half plan to keep their investment capital intact during 2010-2011 and 41 per cent are preparing to expand business in Thailand since they are confident in investment promotions, state-supported measures, and Thailand’s basic infrastructure.

By comparison with Vietnam, the Philippines, Malaysia, Indonesia, India, and China, most foreign investors seeThailand as more competitive in basic infrastructure such as the transport system, public utilities, communications services and logistics management.

However, 3.7 per cent of foreign entrepreneurs plan to downsize their investment because they have suffered from the global economic recession and view Thailand as a small market.

The BoI also surveyed the employment, production and distribution practices of 400 major companies with investment promotions and project investment amounting to Bt500 million or higher in July.

The survey found that employment by companies in all industries increased by 9.3 per cent from the same month last year.

Of the total companies surveyed, 209 or more than 52 per cent, mainly in the automotive and electronics industries, plan to increase the number of jobs and 97 are set to expand investment next year in a combined amount of Bt131.54 billion in all industries.

Mrs Atchaka said investment promotion applications in the past eight months (January-August) totaled 949 projects with total investments of Bt269 billion, up 46 per cent and 12 per cent respectively from the same period last year.

Most projects seeking investment promotion include gas-fired and alternative energy-based power generation, vehicle parts and electronics parts.

Promotion applications by foreign direct investment (FDI) totaled 527 with total investments of Bt122.15 billion, up 29.5 and 43.2 per cent respectively from the corresponding period the year before.

Japanese investors were the main players with Bt49.72 billion, followed by Spanish and Singaporean investors. (MCOT online news)

-- TNA 2010-09-14