Japan's capital in Thailand

Japan's capital in Thailand

BANGKOK (AFP): Appreciation of the Japanese yen boosted investment values by 47.5 percent in the first nine months of 1995, Thailand's Board of Investment (BOI) said in a statement received Saturday.

"Appreciation of the yen is seen to be the major factor in the influx in projects from Japan, while the go-south policy of the Taiwanese government has influenced the number of projects from that island nation," the BOI said.

A total of 863 projects worth 354.1 billion baht (US$14.2 billion) were approved by the BOI for the first three quarters of 1995, compared to 755 projects worth 243 billion baht in the same period of last year.

Strong performance of export market, rising domestic salaries and higher prices for agricultural products improved the investment climate, BOI said.

Foreigners, previously limited to a 49-percent holding, can now hold 100 percent of a project primarily aimed at the domestic market.