Board of Investment Applications sees 45% increase
The secretary general of the Board of Investment (BOI), Ms Atchaka Sibunruang stated that in the first seven months of 2011 there had been 1,030 applications for BOI incentives with a total value of THB299.5 billion. This represented an increase of 37.9% compared Y-o-Y and an investment value growth of 45.5%.
Since January, the number of investment projects had risen every month with the peak month being July which saw 161 projects seeking BOI privileges. These projects had a total investment value of THB 53.6 billion.
The type of investment projects asking for incentives ranged in size from small private business plans to enormous projects requesting billions of baht. The larger projects included a petrochemical project, air transportation businesses, air conditioning manufacturing and the building of industrial estates.
According to Ms Sibunruang, these projects represented an investment value of just under THB300 billion. She added that the BOI had every confidence that the investment target of THB400 billion would be exceeded.
She further added that the investment is set to increase as the year comes to an end because of the annual BOI fair. This fair promotes the potential and confidence given to Thailand as the foremost base for investment.
The highest number of applications seeking BOI privileges was from metal products, machinery and transportation. Their applications totaled 265 projects and the maximum investment was valued at THB83.1 billion. This was an increase from the previous year when there was 140 projects valued at THB26.6 billion. Following close behind were services and utilities with 222 projects valued at THB61.5 billion, with the chemical, paper and plastic businesses in third place with investment projects totaling 141 and a value of THB49.9 billion.
This year’s fair will be the third fair to be organised by the BOI and it has a history of being supported by His Majesty the King. The first fair was held in 1995 in Laem Chabang on the Eastern Seaboard. It was held to coincide with HM the King’s 50th year reigning over Thailand. There were more than two million visitors.
The second fair was held in Bangkok in 2000 to celebrate the millennium and saw double the exhibitors because the size of the floor space increased significantly. This fair was even more successful than the first one as approximately 4.5 million visitors attended. The BOI is confident that the 2011 fair is going to be the biggest yet and is looking forward to seeing over five million visitors.
Mark your calendar: the BOI Fair 2011 will be held under the theme “Going Green for the Future” from November 10 to 25 at the IMPACT Muang Thong Thani Exhibition Complex in Bangkok.