Japan Thailand's Top Investor in 2009 Again

Japan submitted 266 projects through promotion procedures with an investment value of Bt77.3 billion of the total 788 international projects which applied for Thailand’s Board of Investment (BOI)’s promotional privileges in 2009, with an overall value estimated at Bt350.8 billion, an 18 per cent increase year-on-year.

According to BOI Secretary- General Atchaka Sibunruang, despite a 24-per cent drop from 2008, December last year saw 45 Japanese projects apply for promotional privileges with a Bt 23 billion investment. Ms Atchaka said the increase in the number of foreign investors applying for promotion procedures in Thailand showed that foreign investors were still confident to do business in the country.

China came second after Japan with 25 projects submitted and an investment value of Bt43 billion, Bt1.5 billion higher year-on-year, while the United States was in third place at Bt34.6 billion.

Singapore ranked fourth with Bt34.2 billion, followed by Hong Kong at Bt13.8 billion, Switzerland Bt13.2 billion, South Korea Bt8.2 billion, India Bt4.6 billion and Australia at Bt4.4 billion, according to BOI.

Industries of special interest to foreign investors are services and infrastructure, of which 229 projects were applied for at BOI’s promotion procedure with an outstanding investment value at Bt120.5 billion. The large-scale projects here include electricity production from wind and solar energy.

Meanwhile, the industrial sector of electronics and electric appliances placed second with 164 projects in the application process and with an investment value of Bt98 billion. The large-scale businesses here include hard-disk drives, spare parts and other domestic appliances.