BOI, new investment projects : – 20 % on nine months

Thailand’s Board of Investment has cut its investment support target this year, after the US financial storm caused new investment applications to drop 20 per cent in the first nine months. However, it is believed that the crisis will not have a severe affect on Thai industrial firms.
Regarding a 20 per cent year-on-year fall in the value of new investment projects seeking incentives in the first nine months of 2008, she said the drop stemmed from the global financial crisis. As a result, the agency has decided to cut the target amount for investment support for this year to between 450 billion and 500 billion baht, down from an earlier projection of 650 billion baht.

So long for those “grand” dreams on unlimited and continuous growth… Foreigners investors were supposed to pour never ending amounts of fresh USD into the thai economy. And they were supposed to say “thank you” too ! 😉

Every year, as well as exports, we would have +10 or +15 % growth… That was the textbook. What went wrong ? asked panicked and confused people.

They seem to be surprised. They’re lost.

3 Responses to “BOI, new investment projects : – 20 % on nine months”

  1. 1 E. Spitzer 31 October 2008 at 9:31 am

    Any statistics for how many companies close down/drop out/lose BOI status ?

  1. 1 The nutty Baht, Clucking and some Thai wisdom… at The FARANG Speaks 2 Much Trackback on 2 November 2008 at 2:50 am

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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.

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