Boi Adopts Strategy To Strengthen Industrial Sector

[george]

BoI adopts strategy to strengthen industrial sector

BANGKOK: -- The Board of Investment has approved a strategy to strengthen the industrial sector by focusing on development of engineering fundamentals and supporting industries.

Speaking after chairing the BoI’s meeting, Deputy Prime Minister and Industry Minister Kosit Panpiemras said the board supported the strategy to pursue the existing investment promotion plan (2005-2008), which emphasises promoting investment in projects that add value to the country’s economy and society.

An important policy under the strategy is to develop engineering fundamentals and supporting industries, which are key to the sustainable development and are in compliance with the local intellectual development.

The promotion of foreign investment is aimed to bring about an actual development and benefit for the country.

Local investment to be promoted must give an importance to a Thai strong point or identity such as services.

To this end, he said, the board agreed to set up three ad-hoc committees to consider three main issues in detail: type of industries that help strengthen the sector, approaches to attracting foreign investment, and ways to promote local investment, particularly in the service industry.

--TNA 2006-11-21