Thailand’s investment applications up 22% in Jan-Sept, China tops FDI

BANGKOK (Reuters) – Thailand’s investment applications between January and September rose 22% from a year earlier, driven by foreign projects in the electronics, food, and auto sectors, the government said on Thursday.

In the first nine months of 2023, overall applications were about 517 billion baht ($14.6 billion), with foreign direct investment up 43% year-on-year to 399 billion baht, the Thailand Board of Investment (BOI) said in a statement.

China was the biggest investor, with projects worth about 97 billion baht, followed by Singapore and Japan with 80 billion baht and 43 billion baht, respectively, it said.

Foreign investments continued to increase, reflecting investors’ confidence in Thailand’s infrastructure, supply chains and long-term growth potential, the BOI said.

Both Thai and foreign investment applications should exceed the government’s target of 600 billion baht this year, BOI head Narit Therdsteerasukdi told a press briefing.

($1 = 35.46 baht)

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