Chinese investment applications up 888 per cent in Thailand

Bangkok - Chinese investment interest in Thailand soared 888 per cent during the first 10 months of this fiscal year, media reports said Wednesday. Chinese firms sought promotional privileges from Thailand's Board of Investment (BOI) on projects worth 15.23 billion baht (441 million dollars) between October 1, 2006 to July 31, 2007, compared with 1.54 billion baht (44.6 million dollars) during the same period in fiscal 2006. Thailand's fiscal year ends on September 30. BOI deputy Thamrong Mahajchariyawong said the Chinese investment projects were chiefly in the fields of alternative energy, electronic parts and the automobile industry, said The Nation newspaper. Thamrong said the surge in investment interest in Thailand was an outgrowth of the Chinese government's 'go global' policy that was encouraging state enterprises and private firms to invest abroad. China's global foreign direct investments amounted to 5.5 billion dollars in 2004 and 12.3 billion in 2005, said Thamrong. © 2007 dpa - Deutsche Presse-Agentur

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