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Thailand expects investment applications to double in 2016: deputy premier

Xinhua, December 22, 2015 Adjust font size:

Thailand's Board of Investment (BOI) will hopefully receive investment applications worth 450 billion baht (12.5 billion U.S. dollars) next year, more than double the figure of this year, Thai Deputy Prime Minister Somkid Jatusripitak said Monday.

The anticipated expansion of investment applications will result from investors' better understanding of the BOI's new incentive policies, Somkid said.

The BOI has launched new investment incentive policies that give preferential benefits to projects based on the level of technology involved in the activities, according to the deputy premier.

"We felt worried in the last quarter of 2015, only to find Japan return to be the biggest foreign investor in Thailand, taking up 30 percent of the foreign investment," Somkid said.

In 2016, the BOI will focus on attracting investments from 10 target countries or groupings, such as Japan, China, India, Germany, Scandinavia and ASEAN. Investment Promotion Centers will be set up there with experts in marketing and BOI's target industries.

According to BOI's fresh policy, the service sector should be more supported, including tourism, education, medical care and e-commerce, Somkid said. Endit