FDI applications uptick a bright spot in Thailand's gloomy economic outlook

Published Wed, Aug 18, 2021 · 05:50 AM

Bangkok

THAILAND'S Board of Investment (BOI) - the agency that hands out tax incentives and other privileges to foreign and local investors - appears to be the only source of good news this year for South-east Asia's second-largest economy, which has been hit by a Covid-19 resurgence, slow growth and rising political instability.

Last week, the BOI revealed that investment applications for the first half of 2021 had increased 158 per cent year-on-year to reach US$12 billion. This involved 801 projects, a 14 per cent jump from the same period in 2020.

It's an impressive performance amid the Covid-19 pandemic, which continues to cripple the …