Japanese account for more than half of total foreign investments in Q1
Thailand received nearly 36 billion baht in investments from foreigners during the first quarter of the year, the Department of Business Development said.
Japanese investors topped the list, accounting for 19.006 billion of the 35.902 billion baht invested by foreigners, or more than half, Oramon Sapthaweetham, director-general of the department, said. A total of 178 foreign nationals had been permitted to invest in businesses during January-March under the Foreign Business Act BE 2542 (1999). The investments generated employment for 849 Thai nationals, Oramon added.
Foreigners who invested the most were:
1. Japan accounted for 40 out of 178 foreign businesses with investments totalling 19.006 billion baht.
2. Singapore accounted for 32, constituting 18% of the total with investments of 3.294 billion baht.
3. United States investors, numbering 29, made up 16% of the total with investments of 1.048 billion baht.
4. Twenty investors from China accounted for 11% of the total with investments of 2.886 billion baht.
5. Hong Kong accounted for 11 of the 178 foreign businesses, constituting 6% of the total, with investment amounting to 1.017 billion baht.
Investments from foreign businesses play a significant role in transferring specialised technological knowledge from the investing countries to Thais. This includes knowledge in gas detection safety, electrical and electronic system design in rail projects, engineering product design, and smart warehouse management systems, Oramon said.
When compared year on year, the number of foreign investors allowed to invest in businesses in Thailand increased by 4 companies, or by 2%. The investment value increased by 2.854 billion baht, or by 9%. However, the number of Thai employees decreased by 1,083 individuals, or by 56%.
There were 56 foreign investments in the Eastern Economic Corridor (EEC) area in the first quarter of 2024 (January to March), accounting for 31% of the total number of foreign investors in the area. This represents an 81% increase year on year, from 25 investors.
The total investment value in the EEC area was 11.629 billion baht. This was a 256% increase year on year.
In terms of origin of investment in the EEC, 12 Japanese investors brought in 995 million baht; 12 investors from China invested 924 million baht; eight Singaporean investors accounted for 898 million baht, while 24 entrepreneurs from other countries brought in a total investment value of 8.812 billion baht.
