The Board of Investment (BOI) recently reported information on Thailand’s industrial revival, focusing on electronics, processed foods, and electric vehicles (EVs). The investment value from January to June 2023 was US$10.3 billion (364,420 million baht), demonstrating the effectiveness of the government’s policies to promote foreign investment, particularly in the fully integrated EV industry.
According to Ratchada Thanadirek, Deputy Government Spokesperson, there were more applications for investment promotion during the first half of 2023 in terms of both the number of projects and investments. China, Singapore, and Japan are the three countries that provided the most foreign investment.
The EV sector, which includes parts manufacturing and charging stations, is the one to pay attention to. Thailand aims to emerge as the ASEAN region’s primary EV production hub. Currently, there are 14 battery electric vehicle (BEV) manufacturers with a production capacity of 276,640 vehicles per year and a total investment of US$966 million (33,970 million baht). (PRD)
