Thailand May Draw 38% Less Investment Than Expected on Politics
Written on April 22, 2009
Thailand will probably miss its 2009 investment target by 38 percent as anti-government riots and the global recession delay projects.
The Board of Investment may receive investment applications worth 400 billion baht ($11.2 billion) this year, compared with its 650 billion-baht target, Industry Minister Charnchai Chairungrueng told reporters in Bangkok today.
“Investors are holding off their projects given the political situation and the global economy,” he said.
Political unrest may cause Southeast Asia’s second-biggest economy to shrink as much as 5 percent this year, Finance Minister Korn Chatikavanij said yesterday. Prime Minister Abhisit Vejjajiva’s government, which expects lower tax revenue to crimp public spending, plans to discuss next year’s budget and measures to boost tourism at a Cabinet meeting today faxless payday loan online.
Thailand’s capital, Bangkok, has been under emergency rule since April 12 as Abhisit tries to restore peace after anti- government protests led to two deaths and injured 135 people.
Foreign and local companies apply to the investment board for tax breaks on their projects. The data on applications is a gauge of investor confidence in Thailand.
Filed in: management.