Investment promotion applications in Thailand reached a total value of 431.2 billion baht (USD 13 billion) in the first quarter of 2025, marking a 97% increase compared to the same period last year. This growth was driven by significant infrastructure projects and a fivefold surge in digital sector applications, primarily fueled by foreign investments in data centers, according to the Thailand Board of Investment (BOI).
“The data for the first three months of 2025 further confirms the trend seen last year when the data centers and digital services became for the first time the top ranked sector in terms of investment value,” said Mr. Narit Therdsteerasukdi, Secretary General of the BOI.
“This demonstrates the increased focus by both foreign and local companies on high tech investments in Thailand in line with our five-year strategy. This also reflects investors’ confidence in Thailand’s long-term economic potential despite the current global uncertainties.”
Mr. Narit Therdsteerasukdi, Secretary General of the BOI.
Domestic and foreign investors filed a total of 822 project applications during the January-March period, a 20% increase from the first quarter of 2024. As many as 618 of those applications involved foreign investors.
Applications in the infrastructure sector included Bangkok Expressway and Metro PCL’s 109.2 billion baht investment in the construction of the 35.9 kilometer-long Orange Line which will connect Bangkok’s western and eastern suburbs, that will greatly facilitate travel in the city.
The digital sector saw the value of applications soar over five times to 94.75 billion baht, from 17.42 billion baht a year earlier, boosted by a combined investment value of 94.23 billion baht in five data center projects.
In other target industries, a total of 122 applications were filed for investments in the electrical and electronic (E&E) sector representing a combined value of 87.81 billion baht, while the automotive and parts sector saw 72 projects worth a combined 23.5 billion baht.
The petrochemicals and chemicals sector saw 81 applications worth 13.94 billion baht, the agriculture and food processing sector saw 61 projects worth a combined 12.72 billion baht, and the tourism infrastructure sector saw 10 projects worth a combined 9.26 billion baht.
Hong Kong Tops FDI Source Ranking
Foreign direct investment (FDI) applications in the January-March period amounted to a combined investment value of 267.7 billion baht, an increase of 62% from a year earlier.
Hong Kong-based companies came on top of the ranking of FDI sources for the quarter with a combined investment value of 135.16 billion baht, accounting for 50% of all FDI pledges in the period, including 72.7 billion baht in the digital sector alone.
China came in second with 47.3 billion baht, mostly invested in the metal, electronics and automotive industries, followed by Singapore with 38.1 billion baht, focused on projects in the E&E and digital sectors.
Japan ranked fourth with 25.1 billion baht, mostly investments in the E&E and automotive sectors, followed in fifth position by investments from Taiwan-based companies with 4.76 billion baht, mostly in the E&E and automotive parts sectors.
Last year, Thailand’s total applications for investment promotion soared 35% in value to a 10-year high of 1.14 trillion baht. The digital sector, which includes data centers and cloud services, topped in 2024 for the first time the sectorial rankings with a combined 243.3 billion baht in pledged investment, and was followed by the E&E sector with 231.7 billion baht.
