Thailand’s Board of Investment has seen a 43% increase in foreign direct investment, with China as the largest source. The electrical appliances and electronics sector is driving growth.
Thailand Board of Investment (BOI) Sees Significant Increase in Foreign Investment
In the first nine months of 2023, the Thailand Board of Investment (BOI) has experienced a notable surge in project applications and foreign direct investment (FDI). The BOI has seen a 43% increase in investment value, with China emerging as the largest source of FDI applications.
Shift Towards the “New Economy” with Strong Growth in Targeted Industries
- Targeted industries, particularly the electrical appliances and electronics sector, have exhibited robust growth, accounting for 51% of total investment applications. This trend is contributing to Thailand’s transition towards the “New Economy.”
- The BOI is actively addressing regulatory hurdles, expanding its reach, and providing enhanced incentives for the automotive industry to promote automation and electric vehicles.
China Emerges as Primary Source of FDI
China has emerged as the leading source of FDI applications, contributing 24% of the FDI value with a total investment pledge of 97.4 billion baht for 264 projects. Singapore, Japan, Taiwan, and Korea also have significant investments in Thailand, indicating the country’s appeal to foreign investors.