Total Foreign Investment to Exceed 450 Billion This Year

0
1342
Total Foreign Investment to Exceed 450 Billion This Year
Total Foreign Investment to Exceed 450 Billion This Year

The government is confident that this year’s total foreign investment will exceed 450 billion baht as it is encouraging the Board of Investment (BOI) to come out with more strategies to attract foreign investors. This is the view of Dr Somkid Jatusripitak, the Deputy Prime Minister in charge of economy. He said that statistics show a significant three to fourfold increase in investments for this year compared to the same period in 2015. Current investment figures total 89.9 billion baht compared to only 26 billion baht for the same period last year. The majority of these investments are from Japan, China, South Korea and Singapore. European investment in the country particularly from Germany also shows strong signs of improving, he said.

For the second quarter, Dr Somkid said foreign investment was expected to increase by 100 billion baht, bringing the total foreign investment for the first half of 2016 to 200 billion baht. This would mean that at the current rate, 45% of the targeted 450 billion baht for this year has already been met. Accordingly, he has tasked the Board of Investment (BOI) to go on the offensive to attract even more investment into the country. As such he was able to state with confidence that he expects total foreign investment for the year will exceed the 450 billion baht set by the BOI. “It is important for us to look after them until they will not even consider looking outside Thailand. That is why I have asked for a ‘special task-force’ to be set up by the BOI just for this very reason to closely look after their every need,” he added.

comments