BoI hoping for B500bn in investment next year
Published: 24/11/2009 at 12:00 AM
Newspaper section: Business
The Board of Investment (BoI) expects applications for investment privileges to reach 500 billion baht in 2010, up 25% from this year, said Atchaka Brimble, the secretary-general.
She said massive investment from state agencies and the renewable energy sector will be the main drivers for growth as the global economy slowly recovers.
Electric train projects delayed since 2008 are to resume and the government is also supporting renewable energy investment, she said. The government’s 1.43-trillion-baht Thai Khem Kaeng scheme is the leading factor.
“The [BOI] target is quite conservative as we have unresolved political conflicts and the Map Ta Phut dispute. But if these factors ease, then investment may exceed expectations,” she added.
Applications in the first nine months came to 370 billion baht, close to its full-year 400-billion-baht target. Applications last year totalled 430 billion baht.
Most applicants for investment privileges were by Thais, both in terms of value and project number. “In normal economic circumstances, foreign investors would count for over half of the investments,” Mrs Atchaka said.
The BoI is also considering extending certain investment incentives under the Thailand Investment Year scheme.
Only sectors such as megaprojects and property development that qualify as related to tourism will qualify for incentives. “There are some projects that are in the process of concluding their finance, so we should give them some time before applying for investment incentives,” Mrs Atchaka said.
The BoI yesterday opened its One Start One Stop Investment Center (OSOS), a 2,000-square-metre space in Chamchuri Square for operation permits and business licences.
The 21 state agencies covering business licences and permissions are in the centre to provide permission for land use and factory construction as well as offer advice on utility services and tax procedures. Work permits and a visa centre will be added in January.
“It took more than a decade to make OSOS materialise because of political conflicts and conflicts between state agencies,” she said. The OSOS reports directly to the Prime Minister.
