In the first nine months of 2023, foreign investment in Thailand significantly rose, exceeding 84 billion baht.
Deputy Minister of Commerce, Napintorn Srisanpang, released a report on foreign business operations under the Foreign Business Act, B.E. 2542 (1999 CE). Over this period, the number of foreign investors increased to 493, marking a 13% rise from the previous year. This comprised 166 investors via business license channels and 327 via business certification channels, with a cumulative investment sum of 84 billion baht, and a 41% rise in employment, benefiting 5,703 Thais.
The predominant investing countries were Japan, with 111 investors at nearly 23 billion baht, followed by the United States, Singapore, China, and Hong Kong.
Investments mainly funneled into sectors enhancing the nation’s competitive capacity like petroleum exploration, electric train project management, medical equipment and supplies, onshore natural gas pipeline construction, and design services for metal molds in automotive parts production.
Within the EEC area, foreign investors contributed 20% to the total investor count, with an investment value of 16,140 million baht, representing 19% of the overall investment.
It is projected that foreign investment will continue to rise in the final quarter and throughout 2023, potentially exceeding the government’s targets, thereby catalyzing a swifter recovery of the Thai economy. (NNT)
