Mr. Titanun said the export growth fell sharply to 15.5 per cent in August from 43.9 per cent growth in July.

Shipments to the U.S., Thailand’s main trade partner, dropped drastically to 6.3 per cent in August from an average 20 per cent growth year on year.

Thai exports to the new markets in Southeast Asia countries also plunged to 14 per cent from 68 per cent, while export to China declined to 1.4 per cent from an average of 37.2 per cent annual growth.

In the meantime, imports rose 26.9 per cent in August from a year earlier to $16.46 billion following a record rise of 53.4 per cent to 17.55 billion in July, leaving two straight month trade deficit account of $762 million and $675 million respectively.

The applications for BoI’s investment support from January to August fell 25 per cent from the same period last year, according to secretary-general Satit Chanjavanakul.

He said BoI has recorded of 650 billion baht in investment privileges approval in 2007, led by the automotive industry.

However, he said Japan Bank for International Co-operation still ranks Thailand amongst the top four investment destination countries in the Asia-Pacific region.

Mr. Satit said ongoing political turmoil has dissuaded new investors to come to Thailand.

But automobile, electronic, computer and home appliance industries continue to grow healthily and Thailand is still amongst top agricultural goods exporters.

Mr. Satit also announced new BoI’s incentive package on alternative energy including projects involved in the development of solar cell, biogas and wind power.

As the result, the pump prices for the E85 ethanol will be sold at around 17.54 and 18.74 baht a liter cheaper than the premium benzene.

The ministry said it is also looking to cut the E85 excise tax for vehicles with engine displacement of less than 200 cc to be lower than of the E20 vehicles by 20-25 per cent to instigate the E85 vehicles import.

According to the plan, the Energy Ministry expects to see around 1,000 E85 vehicles hit the road between 2008 and 2009, effectively increasing the country’s demand for ethanol by 4,000 liters per day.

The policy is aiming to reduce the gap between ethanol oversupply of 1.5 million liters per day and its demand of 955 thousand liter per day.

Ethanol oversupply was currently added into the government’s concern list-items. By the end of the year, there will be three more ethanol plants set to open operation at full capacity, adding more than 980 thousand liters of ethanol to the market daily.

Ford, Volvo, and GM are only three automakers that announced readiness for the production or the import of the E85 vehicles.

Indorama Polymers, one of the world’s largest producers of polyethylene terephthalate (PET) polymer, reported its first half year revenue of 19.215 billion baht, up from 11.697 from a year earlier, and first-half net profits was 1.588 billion baht, tripled 509 billion baht in the corresponding period last year.

CEO D.K. Agarwal told investors at a news conference on Tuesday the company will soon complete an expansion to capacity of 180,000 tons of PET per annum. The price of PET went up by 6.7% year-on-year to currently averaging 51,502 baht per ton.

The country’s second largest mobile phone operator plans to make 3G available nationwide by mid-2009.

Mr. Brekke said DTAC appeared to have an edge over its rivals, because its existing 850 Megahertz mobile frequency could be quickly upgraded into high-speed download packet access (HSDPA).

“DTAC will be the only sole operator offering 3G services nationwide in the first year of getting the license,” Mr. Brekke said. “This will help us gain an image of leading 3G carrier.”

DTAC is planning to spend at least five billion baht three phases of 3G upgrading. The first phase will cover wireless broadband services in Bangkok. The second phase will be extending to some nearby big cities such as Cholburi and the third phase covering the rest of the country.

Ms. Unyarat said on Wednesday that Pattanasin Securities has been appointed as financial advisor for the listing.

She said the company hopes to get the Securities and Exchange Commission approval by the third quarter this year.

“My father wants to see change. He wants the business to grow,” Ms. Unyarat said at the company’s press conference.

According to plan, Jubilee would be the first jewelry business to list on the stock exchange, Ms. Unyarat said. The company has captured a 2-per-cent share in the Bt35-billion diamond market. It hopes to increase sales by 50 per cent in the next years upon entering the international arena.

He said a number of auto makers have expressed interest to invest in Thailand, not only to make it production base but research and development center as well, which will help pushed Thailand to the forefront country small car production of the region.

Mr. Vallop said increase in the eco car demands will not erode the existing pick-up truck market due to they aim at separated segments.

There are currently 6 automakers invested in the eco car project in Thailand, lifting the government’s projection of 1.4 million mark of auto production per annum the new to 2.5 million mark over the next seven years, which reached the world’s top 10 largest auto production country by volume.

Mr. Vallop believes that the eco car can be promoted as another Thailand product champion beside the one-ton pick-up truck, which currently Thailand is the world’s second largest production country after the U.S.