Investment projects approved last year by the Board of Investment (BoI) hit a 50-year high, signalling stronger confidence in a resilient Thai economy, secretary-general Hiranya Sujinai said yesterday.
The BoI approved 3,469 investment projects worth 2.19 trillion baht in 2014, surging 73% in terms of project numbers and 117% in terms of value.
In 2013, it approved 2,347 projects worth 1.11 trillion baht.
Last month alone, the BoI approved 2,092 projects with a total investment value of 1.43 trillion baht.
"It is the highest investment volume in 50 years," Ms Hiranya said.
She attributed the rise in 2014 BoI applications to investor concerns about new regulations in Thailand's investment roadmap, which the government is set to unveil this week.
The investment roadmap for 2015-21 is part of the country's strategy to achieve sustainable growth, strengthen competitive advantage and reduce dependence on cheap labour.
"We're not much concerned about the number of approved projects in 2015 compared with the record number in the previous year," Ms Hiranya said.
"We'll focus on the quality of projects that promote the use of high technology, research and development, as our aim is to improve the country's competitiveness in the long term."
According to 2014 investment data, the sector granted the most BoI applications was industrial and infrastructure projects, with 799 projects worth 822 billion baht winning approval.
Chemical, paper and plastics companies were awarded 503 projects worth 430 billion baht.
The automotive and auto parts industry received approval for 737 projects worth 325 billion baht, while the agribusiness sector secured 806 projects worth 271 billion.