Thailand Expects US$3bn Foreign Investment This Year

• Sommana Yan
• 26 February 2023
• International News
• 1504 Views

A minimum of 100 billion baht is expected to flow into Thailand through foreign investment, supported by several factors.

“The active foreign investment is supported by the country being fully open in terms of both tourism and investment, as well as anticipated expansion of production bases in Thailand by international firms, particularly in industries with growth potential such as electric vehicle manufacturing, agriculture, food, biotechnology, tourism, health and various digital business,” Deputy Commerce Minister Sinit Lertkrai told Bangkok post this week.

Additionally, foreign investment is bolstered by infrastructure development in the Eastern Economic Corridor (EEC), where the government and private sector are collaborating on promotions.

The ministry reported in January that eight foreign investors indicated an interest in investing in the EEC, accounting for 15% of the total number of investors, with a total investment value of 683 million baht. (Read more)

In January, 52 foreign investors were granted permission to invest with a combined investment of 5.12 billion baht. The top five countries with the highest foreign investments were Japan, worth an investment of 3.58 billion baht; China worth 548 million baht; Singapore worth 410 million; the UK worth 98 million baht; and the US worth 9 million.

According to Mr Sinit, businesses licensed last month mainly focused on infrastructure development, in line with the country’s policy to promote investment and increase its competitiveness, such as design, procurement, sourcing, installation, upgrading, development, system testing, system integration and management for electric railway projects.