Thailand: BoI approves THB42bn of investment plans

• The Board of Investment (BoI) has approved five investment project applications worth about THB41.8bn and measures to strengthen the agricultural sector and agro-industry, the state investment agency said on 18 Jun 20.
• Of the pledges, Thai Oil will invest THB24.1bn to produce 250 megawatts of electricity using oil waste, while B.Grimm Power will spend THB6bn on a natural gas-fired power plant, the BoIsaid in a statement.
• Summitr Group will invest THB5.5bn to produce about 30,000 electric battery-powered vehicles a year, mainly for the domestic market, the BoI said.
• Envico will invest about THB2.47bn to produce recycled plastic pellets, and Bangkok Arena will spend about THB3.75bn to build a convention hall, the BoI said.
• “It is very encouraging to see that despite the global economic situation due to Covid-19, Thailand, which has done well in containing the outbreak, sees a continuous flow of investment,” BoI secretary-general Duangjai Asawachintachit said.
• The agency said it had also adjusted investment promotion terms and benefits for the agricultural industry to encourage the use of technology and innovation.

External Link : https://www.bangkokpost.com/business/1936472/boi-approves-b42bn-of-investment-plans