Thailand's Board of Investment (BOI) had revised down its targeted value of investments expected to apply for investment promotion privileges and planned to conduct a road show abroad to attract foreign investors to Thailand.

The BOI revised down the value of investments expected to apply for investment promotion privileges for 2009 to 400 billion baht ( 11.23 billion U.S. dollars) from a previous target of 650 billion baht (18.26 billion U.S. dollars), said Industry Minister Charnchai Chairungreung on Tuesday.

"The recent political situation has affected the investment confidence," the website by Thai-language newspaper Matichon quoted Charnchai as saying.

Meanwhile, investors had proposed the BOI to extend a period of exemption of the corporate income tax from eight years to 15 years, he said.

However, the minister said the extension of the corporate income tax's exemption to 15 years was too long, hence, he would propose the BOI next week the exemption of 12 years.

The BOI planned to conduct the road show in Australia, China, South Korea and the United States to attract foreign investments to Thailand, said Charnchai.

From April 12, the government has declared the state of emergency in capital Bangkok and some districts of five nearby provinces, citing the escalating violence due to scattered anti- government rallies.