Thailand Investment Applications Rise 8% in Jan-Sept to $11.5 Bln

Cargo ships are pictured near the port in Bangkok, Thailand, March 25, 2016. (Reuters Photo/Athit Perawongmetha)

By : Pracha Hariraksapitak | on 6:00 AM November 24, 2017
Category : International, SE Asia

Bangkok. Applications to invest in Thailand rose 8 percent in the first nine months of 2017 from a year earlier, and the state investment promotion agency expects to meet its target for the year, the agency's chief said on Thursday (23/11).

The military government is trying to boost sluggish private investment to spur growth in Southeast Asia's second's largest economy, which is improving but still lags its regional peers.

Thai and foreign investors submitted investment applications worth a combined 376.6 billion baht ($11.51 billion) in Jan-Sept, with Japan remaining the biggest investor, Duangjai Asawachintachit, secretary-general of the Board of Investment (BOI), told reporters.

That is about 63 percent of the BOI's target of 600 billion baht for this year.

"The target remains the same and it should be achieved," Duangjai said, adding many other projects were in the process of applying for investment incentives.

Of the investment pledges in the first nine months, 104 billion baht were projects in the Eastern Economic Corridor (EEC) development area, she said.

Reuters

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