Applications for promotional privileges by Chinese investors rose 885% in value in the first 10 months of the 2007 fiscal year from the same period last year, according to Thamrong Mahajchariyawong, deputy secretary-general of the Board of Investment.

The figure from Oct 1 to July 31 was 15.23 billion baht, up from 1.54 billion in the same period of 2006.

Mr Thamrong said the increase reflected the ''going global'' policy of the Chinese government, which has been encouraging the private sector and state enterprises to invest heavily overseas and help rein in the country's massive current-account surplus.

The industries that Chinese investors favoured most were ethanol, biodiesel, electronic and automotive parts. Chinese investors overtook Singaporeans as the fourth-largest investor group in Thailand.

Total foreign direct investment (FDI) in the first 10 months of fiscal 2007 increased 18.2% to 280.72 billion baht. The top industries were automotive and parts, electronic, electrical, alternative energy and biotechnology.

Bangkok Post, August 29, 2007