# BOI sees strong growth in investment promotion applications in H1 2024

- Link: https://www.thailand-business-news.com/economics/153637-boi-sees-strong-growth-in-investment-promotion-applications-in-h1-2024
- Published: 2024-07-27T06:28:00+07:00
- Author: Thai News ข่าวไทย

The Board of Investment (BOI) reported a 35% increase in investment promotion applications
in the first half of 2024, with approximately 1,400 projects totaling 458.36 billion
Baht. Key growth sectors include electronics, automotive, and agriculture.

## Key Takeaways

 * Foreign Direct Investment (FDI) has shown robust growth, with Singapore leading
   the way in investment, particularly in the electronics industry.
 * The BOI aims to enhance Thailand’s competitiveness by attracting investment in
   new industrial bases, including electric vehicles, semiconductors, and global
   data centers, with plans for proactive initiatives in the second half of 2024
   including roadshows in South Korea, China, India, and Singapore.
 * The BOI aims to enhance Thailand’s competitiveness by attracting investments 
   in electric vehicles, semiconductors, and data centers. Upcoming plans involve
   initiatives in South Korea, China, India, and Singapore to integrate global industries
   and enhance Thai SME efficiency.

BANGKOK (NNT) – The Board of Investment (BOI) has reported a substantial increase
in investment promotion applications for the first half of 2024. There were about
1,400 projects requesting promotion, with a total investment value of 458.36 billion
Baht. This represents a 35% increase in investment value compared to the same period
last year, according to Narit Therdsteerasukdi, Secretary General of the BOI.

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The growth was driven by key sectors such as electronics and electrical appliances,
automotive and parts, and agriculture and food processing.

The electronics sector, in particular, attracted the most significant investment,
including advanced electronics and smart devices. Foreign Direct Investment (FDI)
also showed robust growth, with Singapore leading the way, followed by China and
Hong Kong. Singapore’s significant investment, totaling nearly 91 billion Baht, 
was largely attributed to major projects in the electronics industry initiated by
companies with Chinese parent firms.

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The Board of Investment (BOI) is dedicated to boosting Thailand’s competitive edge
by drawing investments into emerging industrial sectors, including electric vehicles,
semiconductors, and international data centers. The strategy for the latter half
of 2024 encompasses dynamic measures like hosting roadshows in South Korea, China,
India, and Singapore. The objective is to amalgamate global industries with Thailand’s
local supply chains and to augment the production proficiency of Thai SMEs, thereby
establishing Thailand as a pivotal regional center for cutting-edge industries and
technologies.

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