Applications for Board of Investment (BoI) privileges in 2012 topped 1.46 trillion baht, the highest ever, Industry Minister Prasert Boonchaisuk said on Thursday.
The number of projects rose from 2011 by 29.7%, while investment value was up 131%. These investment projects would create an estimated 348,866 jobs, the minister said.
Mr Prasert said the investment applications target for 2013 was set at between 600 billion and 700 billion baht, a normal level, similar to those of the past several years.
Investment applications substantially rose in 2012 because it was the year the term of the old investment privileges promotion policy was scheduled to expire, he said.
The minister said he had set up a working panel to monitor the impact of the new 300 baht daily wage nationwide on small and medium-sized enterprises (SMEs).
The impact is expected to be clearly seen in the next few months and the Ministry of Industry would then introduce additional assistance measures for affected manufacturers, he added.
Mr Prasert said the possibility of an industry clinic to help find ways to reduce production costs of the industrial sector was being considered. In the past, an industry clinic had been able to cut production costs of manufacturers by 10%.
BoI secretary general Udom Wongwiwatchai said the new investment promotion policy, which still focuses on promoting labour intensive industry, is expected to be completed in mid-2013.