FDI proposals decline

Foreign direct investment (FDI) commitments were the lowest in 2008 both in terms of value and the number of proposals, according to Board of Investment (BoI) data.

Only 13 projects worth $60 million from intended foreign investors were registered with the BoI last year. Canada alone intended to invest about $53 million in one project.

Some 141 projects worth $327 million were registered in 2007.

Registration means an investment commitment by an intending investor, not actual investment. Registration is an official approval for expression of investment intent by an investor.

During registration, an entrepreneur submits an investment proposal to BoI to be implemented in a specified period.

The number of foreign investment proposals registered with BoI in 2006 was 166 worth $1,471 million. The number of proposals was 131 worth $3.8 billion in 2005.

“Investors want stable politics. The years 2007 and 2008 were volatile for domestic and foreign investors,” said a senior BoI official.