Up to Bt500b new projects eye to invest in Thailand

BANGKOK, March 7 (TNA) - Several new mega projects, totally worth about 500 billion baht, have eyed to invest in Thailand, each worth more than 200 million baht. Federation of Thai Industries (FTI) Chairman Payungsak Chartsutipol told journalists of the update, acknowledging that the new mega-projects are awaiting for approvals for promotional privileges from the new Board of Investment of Thailand (BOI), but no consideration can be made at the moment, as the caretaker government, based on the laws, cannot appoint a new BOI. Payungsak, who is a member of the outgoing BOI, expressed concerns over foreign business operators considering to, thus, relocate their new investment projects to other member countries of the Association of Southeast Asian Nations (ASEAN), namely, Indonesia, Vietnam, Malaysia and the Philippines, although Thailand has most business potential for their investment, due to ongoing domestic political turbulence and a delay in forming a new Thai government. The FTI chief's remarks were made after Japanese business operators said during a seminar in Bangkok on Thursday that they might relocate their investment to the other ASEAN member countries if Thailand's political problems could not be settled by another 6-12 months. The FTI chief warned that it will be difficult for foreign business operators to return to Thailand once they leave for other countries. (TNA)