Thailand: Board of Investment director says Industrial development in Thailand will falter over the next five years as regulatory risk of Map Ta Phut impasse scares off investors.

Section: Business News - Industrial development in Thailand will falter over the next five years as regulatory risk surrounding the Map Ta Phut impasse has scared off investors, says Narongchai Akrasanee, a director of the Board of Investment, the Bangkok Post reports.

The lack of investment will deal a heavy blow to the Thai economy, which may well need to adopt a new strategy for growth that does not depend on heavy industry, he said.

"There is no future for heavy industry over the next five years," said Dr Narongchai, also an economic adviser to the government.

New investment in heavy industries, particularly petrochemicals and steel, will decline over …