(CTN News) – The Japanese were the largest foreign investors in Thailand in the first month of 2023, investing a total of 3.588 billion baht.
An estimated 100 billion baht ($2.5 billion) in FDI will come in from outside by the year’s end.
Foreign investment increased to 52 in January, according to data released today by Foreign Business Act (1999).
Twenty-two investors secured a foreign business license, while thirty more secured a foreign business certificate.
There was a total of 5.129 billion baht invested by outside investors.
The top foreign investors were from…
- Japan (14 investors totaling 3.588 billion baht)
- Singapore (six investors totaling 410 million baht)
- USA (six investors totaling 9 million baht)
- UK (five investors totaling 98 million baht)
- China (three investors totaling 548 million baht)
Most of the overseas investments green-lit in January 2023 are consistent with Thailand’s growth strategy, including…
- Design, purchase, supply, install, and development of electric train projects
- Petroleum drilling devices to be used in the Gulf of Thailand
- Digital rights management systems
- Engineering and technical services
- Digital platform development services
The investments also included technology transfer, in which the investor sends technology knowledge directly to Thailand, aiming to transform inventions and scientific outcomes into new products and services that benefit society, such as 3D design, computer knowledge, transport knowledge and media knowledge.
Because of this complete reopening, the Ministry of Commerce estimates that foreign investment will reach at least 100 billion baht by the end of the year.
Tourism, electric cars, agriculture, bio-food, healthcare, and the digital sector are only some predicted growth areas for international corporations.
In 2022, Chinese investment was Thailand’s largest single source of foreign currency. Thailand, the world’s second-largest economy, invested US$2.3 billion (79 billion baht) in the electronics, automotive, and data center industries.
Once 2019 comes to a close, China will have established itself as the top investor, but Japan will have reclaimed the top rank for 2020 and 2021.
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