BANGKOK, Thailand – From January to September 2024, 636 foreign businesses were granted permission to operate in Thailand under the Foreign Business Act, representing an increase of 29 percent over the same period of 2023.
Director-General of the Department of Business Development Auramon Supthaweethum said that during the nine-month period, the total foreign investment was valued at 134.8 billion baht, generating employment for 2,505 Thai people.
Japan was at the top of the five largest foreign investors, with 157 businesses, accounting for 25 percent of the total. It will invest 74 billion baht in such businesses as engineering and technical services, advertising, warehousing, application services, and contract manufacturing.
Singapore came second, with 96 businesses and 12.2 billion baht in investment, accounting for 15 percent of the total. China ranked third with 89 businesses, followed by the United States, 86 businesses, and Hong Kong, 46 businesses.
As for investment in the Eastern Economic Corridor (EEC), a total of 207 foreign businesses were interested in investing in the EEC from January to September 2024. The number accounts for 33 percent of the total foreign businesses granted permission to operate in Thailand during the period. It also represents an increase of 109 percent, when compared to 109 businesses over the same period of 2023.
The Government aims to expand investment in the country and it has offered incentives to investors, while encouraging more investments in infrastructure development. Thailand also has sufficient raw materials and resources, thus creating confidence in the country’s potential among investors. (PRD)
