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.
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.
The BOI is focused on enhancing Thailand’s competitiveness by attracting investment in new industrial bases, such as electric vehicles, semiconductors, and global data centers. Plans for the second half of 2024 include proactive initiatives such as roadshows in South Korea, China, India, and Singapore.
These efforts aim to integrate global industries with local supply chains and enhance the production efficiency of Thai SMEs, positioning Thailand as a regional hub for advanced industries and technology. (NNT)
