The Board of Investment (BoI) said some 756 foreign direct investment (DFI) projects worth 270 billion baht ($7.94 billion) that expected to create 127,149 jobs had applied for tax-waiver privileges program in the first seven months on 2007, up 29% despite political uncertainties and economic worries, compared with 728 projects worth 211 billion baht ($6.21 billion) and created 119,997 jobs in the same period in 2006.

“Statistics show that foreign investors’ confidence has been continuingly improved,” said government’s investment promotion office secretary-general Sathit Chanchaokul.

He said the most noticeable BoI-approved projects so far this year involved in petrochemical, auto, electronics and energy industries. Utility services land top large-scale FDI projects with investment capital of 66 billion baht.

Japan remains top foreign investors with 199 projects worth 10.3 billion baht ($302.94 million) registered for license.

“The strength of baht and foreign ownership bill seemed to have little affects to foreign investors’ confidence as long as they use imported materials and can hold 100 per cent stake in BoI-promoted firms,” he remarked.

Sathit, referring to continuous increasing applicants, predicted that Thailand’s foreign direct investment will increase incrementally if general election is held this year.

He is optimism that total FDI in 2007 will reach the projection of 500 billion baht ($14.71 billion) by year end.