# Thailand’s investment pledges for January to March surge by 31% to USD 6.2 billion

- Link: https://www.thailand-business-news.com/investment/139378-thailands-investment-pledges-for-january-to-march-surge-by-31-to-usd-6-2-billion-boi
- Published: 2024-05-07T08:58:00+07:00
- Author: Boris Sullivan

Thailand’s investment promotion applications surged by 31% to 228.2 Billion Baht(
USD6.2 billion) in the first quarter of 2024, driven by an increase in projects 
by foreign investors in the electronics, automotive, petrochemical, and chemical
sectors, according to the Thailand Board of Investment (BOI).

 * 📈 **Thailand’s BOI reports a 31% increase in investment applications for Q1 
   2024, reaching USD 6.2 billion.** This surge is attributed to a rise in large
   foreign direct investment (FDI) projects.
 * 🏭 **The Board of Investment of Thailand (BOI)** is a government agency responsible
   for promoting and facilitating foreign investment in the country. It offers various
   incentives and support services to attract businesses across various sectors.
   [Source](https://www.boi.go.th/en/)
 * ⚡ **Thailand’s emergence as an EV hub is being accelerated by favorable government
   policies.** These policies provide comprehensive incentives for investors in 
   the EV supply chain, contributing to the country’s rapid growth in this sector.
   [Source](https://www.boi.go.th/en/news/press-releases/2023/thailands-emergence-as-an-ev-hub-is-being-accelerated-by-favorable-government-policies/)

The electronics and electrical appliances (E&E) industry had the highest investment
value in the first quarter at 77.2 billion baht, mainly for projects related to 
printed circuit boards (PCB), wafer fabrication for power electronics, and smart
electronic products.

ADVERTISEMENT

Other sectors with high investment values were automotive and parts (21.3 billion
baht), petrochemicals and chemicals (17.7 billion baht), digital (17.5 billion baht),
and agriculture and food processing (13.3 billion baht).

### Related**Posts**

###  󠀁[What Would an ASEAN-Canada Free Trade Agreement Mean for Foreign Investors?](https://www.thailand-business-news.com/asean/331504-what-would-an-asean-canada-free-trade-agreement-mean-for-foreign-investors)󠁿

###  󠀁[Thailand’s Floods Expose Severe Vulnerabilities in Its Automotive Supply Chain](https://www.thailand-business-news.com/business/332669-floods-in-thailand-highlight-the-vulnerability-of-the-countrys-automotive-supply-chain)󠁿

###  󠀁[Infineon opens US$1.4 billion Thailand plant as semiconductor investment moves up the value chain](https://www.thailand-business-news.com/investment/332189-infineon-opens-us1-4-billion-thailand-plant-as-semiconductor-investment-moves-up-the-value-chain)󠁿

###  󠀁[Thailand Business News — Morning Briefing: Thailand extends THB43 billion relief package](https://www.thailand-business-news.com/asean/330618-thailand-business-news-morning-briefing-thailand-extends-thb43-billion-relief-package-as-energy-shock-threatens-household-spending)󠁿

The investment applications from Singapore ranked highly due to significant investments
by Singaporean affiliates of Chinese PCB manufacturers.

Foreign direct investment (FDI) applications increased by 130% to 460 projects, 
totaling 169.3 billion baht, with the top sources being Singapore (42.5 billion 
baht), China (34.7 billion baht), Hong Kong (26.6 billion baht), Taiwan (20 billion
baht), and Australia (17.2 billion baht).