Thailand expects 12% rise in investment pledges this year

[BANGKOK] Thailand expects to receive investment proposals of 720 billion baht (S$30 billion) this year, up 12 per cent from 2017, the investment promotion agency said on Friday.

In 2017, foreign and domestic firms applied to invest about 642 billion baht, topping the 600 billion baht target, Board of Investment Secretary-General Duangjai Asawachintachit told reporters.

The board did not release data on actual foreign investment last year.

By value of applications, Japan remained Thailand's biggest foreign investor last year, with 133 billion baht, followed by Singapore, China and the United States.

Growth in Southeast Asia's second-largest economy has lagged regional peers since the army took power in 2014. Planned large infrastructure projects generally been slow to get off the ground.

The state planning agency projects economic growth of 3.6-4.6 per cent this year. It has forecast 3.9 per cent for 2017, data for which will be announced on Feb 19.

REUTERS