Secretary-General of Thailand Board of Investment (BOI) Udom Wongviwatchai said that a total of 2,237 projects, valued at 1.11 trillion baht, sought promotional privileges from BOI in 2013.

He said that the projects generated employment for 207,463 people. The industries with the highest investment value included service and public utilities, with 849 projects, followed by metal products, machinery, and transport equipment, with 448 projects, agriculture and agricultural products, with 362 projects, electronic and electrical appliances, with 285 projects, and chemicals, paper, and plastics, with 147 projects.

Out of the investment value of 1.1 trillion baht, foreign direct investment came to 524.77 billion baht, with 1,132 projects. This represents a decline of 19 percent in value and 28.5 percent in volume, compared to 2012. Japan remained the largest group of foreign investors in Thailand, with 562 projects worth 282.8 billion baht. The value accounted for 54 percent of the total foreign direct investment in Thailand. Most Japanese investment projects involved mainly metal products and the automobiles and parts.

The second largest group of foreign investors in Thailand was China, with 45 projects worth 42.5 billion baht, followed by Malaysia, with 35 projects worth 29 billion baht, Singapore, with 93 projects worth 22.78 billion baht, and Hong Kong, with 39 projects worth 20 billion baht.

The BOI Secretary-General stated that, in the overall picture, the investment situation in 2013 was satisfactory, although investment dropped slightly in terms of volume and value, when compared with 2012. Thailand’s investment in 2012 registered at 2,347 projects, valued at 1.18 trillion baht.

As for 2014, BOI believes that Thailand will remain attractive to foreign investors, especially Japan. Investment in major industries in Thailand is still high, in preparation for the ASEAN Economic Community, which will be in place in 2015. ASEAN countries stand to benefit from intra-regional investment activities.

The recovery in the global economy, low inflation, and low interest rates are among positive factors for Thailand’s investment situation in 2014. At the same time, exports are starting to pick up. However, political uncertainties might affect investor confidence, if anti-government rallies in Bangkok are prolonged.

In 2014, BOI will encourage foreign investors to invest more in such industries as agricultural processing, auto manufacturing, electronic production, biotechnology, nanotechnology, and environmental management. It will continue to improve services for investors, facilitate their operations, and create a favorable investment climate to attract quality investments into the country. Reports The Thai Government Public Relations.