By 2024, Thailand’s investment applications reached 1.13 trillion baht, the highest in a decade, with 3,137 projects approved, significantly boosting job creation and exports across key sectors.
Thailand’s Record Investment Applications by 2024
By 2024, Thailand is poised to reach an unprecedented level of investment applications, totaling 1.13 trillion baht, the highest in a decade. The Board of Investment (BOI) reports a remarkable 40% increase from the previous year, with 3,137 projects approved. Key growth sectors include digital industries, automotive manufacturing, and agriculture. Major foreign investments came from Singapore, China, and Japan, particularly concentrated in Eastern and Central Thailand.
Significant Economic Impact
The surge in investment is expected to generate over 210,000 jobs and utilize more than 1 trillion baht in local materials annually. This growth is anticipated to contribute over 2.6 trillion baht to Thailand’s export value. The automotive sector, including electric vehicles, and the renewable energy sphere are driving significant interest from both domestic and international investors.
Government Support and Future Outlook
Government initiatives, tax incentives, and improved infrastructure have fostered a favorable investment climate. Thailand’s strategic location and logistics network further enhance its appeal as a regional business hub. Experts predict that Thailand’s growth trajectory will strengthen its competitive edge in the global market, promoting sustainable economic development for years to come.
Source : Thailand Sees Record-High Investment Applications for 2024