BoI upbeat after first four months

[Lite Beer]

BOARD OF INVESTMENT
BoI upbeat after first four months
ERICH PARPART
THE NATION

BANGKOK: -- THE BOARD of Investment has maintained its target of approving Bt350 billion worth of projects this year as the number of new requests in the first four months did not drop as previously expected.

Applications to the BoI totalled 237 projects worth Bt37.62 billion from January to April.

"There was an expectation that the number of BoI-approved projects would slow down after changes in the BoI's strategy and privileges, which had led to an unusually high number of approvals as of the end of last year, but it did not happen. The number of approved projects in the first four [months] is quite satisfactory," said Deputy Prime Minister MR Pridiyathorn Devakula, who revealed the results at a BoI meeting yesterday.

"I am very happy that there have been approvals for international headquarters and international trading companies. The number of modern industries that require higher technology and are less labour-intensive has also increased, and this is something that we wanted to see, as our labour costs are high. This type of business will allow us to be more competitive than our neighbours that have the advantage in terms of labour costs," he said.

The number of "modern industries" accounted for 144 of the BoI applications between January 1 and May 22, and the combined value of the projects was around Bt20 billion, while 17 of them were international HQs or international trading centres.

Hiranya Sujinai, acting secretary-general of the BoI, said she expected about 60 per cent of the approved projects this year to be related to modern industry. She said a total of 957 projects worth Bt325 billion were approved in the first four months and they were expected to make real investments in the next three years.

Meanwhile, regarding former finance minister Kittiratt Na-Ranong's claim that the public debt created by the elected administration of Yingluck Shinawatra did not reach Bt720 billion as the military regime has claimed, Pridiyathorn said around Bt500 billion of the debt created by the previous government was from the rice-pledging scheme alone. Another Bt74 billion was created by the State Railway of Thailand, and all of the public debts were traceable and backed by evidence.

"They created the debts and they do not know it themselves?" he asked rhetorically.

Meanwhile, Prime Minister Prayut Chan-o-cha said after another meeting on the establishment of special economic zones (SEZs) in six areas in border provinces that the plan needed to be divided into two phases to tackle land limitations and public-private participation difficulties.

Therefore, he said, the government would initially invest in land via the Industrial Estate Authority of Thailand so that it could rent the land to the private sector for their facility expansions in the SEZs.

In the next step, the private sector would be encouraged to participate in driving the economy via a "social business" platform, he said. in line with local supply chains like the Dong Tung development project, said he.

Source: http://www.nationmultimedia.com/business/BoI-upbeat-after-first-four-months-30261250.html

-- The Nation 2015-05-30

[Strangebrew]

Some how I think these people are on crack.

[JOC]

The "logic" here is a little like: Many people applied for dole, conclusion the country is doing well!!

[shirtless]

Looking at other threads the economy is in bad shape but investment still strong

[Srikcir]

I hope the Junta doesn't confuse the "Dong Tung" development project with its own "Thung Yang Daeng" initiative in South Thailand that might otherwise be called "Daeng Thung Yang."

[elgordo38]

Some how I think these people are on crack.

Upbeat, downbeat, beat up what beat are they marching to. I am getting confused.