BOI:Applications for digital projects surge in 2018

BANGKOK, December 12 (TNA) - The Board of Investment of Thailand (BOI), under the Ministry of Industry, reports that applications for its promotional privileges for new digital projects, sought by international investors, have surged by over 405 per cent so far this year. BOI Deputy Secretary General Narit Therdsteerasukdi told journalists of the upbeat on Wednesday, stating that the international applications for new digital projects reached 135 projects during the first nine months of this year, worth over 12.74 billion baht totally or a 405 per cent year-on-year surge. Narit noted that most of the international applications were those on the software development, the digital platform service, the Cloud service and digital innovation training centers. According to the BOI deputy chief, the soaring applications for digital projects reflect international investors' sound interest in relocating their new plans to Thailand in line with the Thai government's policy direction on targeting more value-added and innovative technological businesses, especially those on the digital technology, in order to enhance the efficiency and competitiveness of the domestic industrial sector. However, CIMB Thai Bank cautioned, meanwhile, that there would be a slowdown in new international investment projects for a certain period of time next year as international investors would wait for a clear direction of the newly-elected administration, following Thailand's new general election, expected in February 2019. (TNA)