Foreign investment in Thailand in the first nine months of 2023 reached 84 billion baht, with 493 investors.
Foreign Investment in Thailand Surges in First Nine Months of 2023
Foreign investment in Thailand has seen a significant increase in the first nine months of 2023, surpassing 84 billion baht. According to a report released by Deputy Minister of Commerce, Napintorn Srisanpang, the number of foreign investors has risen by 13% to 493, with 166 investors coming through business license channels and 327 through business certification channels. This influx of investment has led to a 41% rise in employment, benefiting 5,703 Thais.
Top Investing Countries and Sectors
The report also highlighted the top investing countries in Thailand. Japan leads the pack with 111 investors and an investment of nearly 23 billion baht, followed by the United States, Singapore, China, and Hong Kong. The majority of investments were directed towards sectors aimed at enhancing the country’s competitive capacity. These sectors include petroleum exploration, electric train project management, medical equipment and supplies, onshore natural gas pipeline construction, and design services for metal molds in automotive parts production.
Foreign Investment Expected to Continue Rising
Foreign investment is projected to continue rising in the final quarter of 2023 and beyond, potentially exceeding the government’s targets. This increase in foreign investment is expected to contribute to the swifter recovery of the Thai economy. Within the Eastern Economic Corridor (EEC) area, foreign investors accounted for 20% of the total investor count, with an investment value of 16,140 million baht, representing 19% of the overall investment.
Source : National News Bureau of Thailand