Thailand’s FDI magnet still strong with 36% rise last year
Thailand’s magnet for foreign direct investment remained strong in 2022, with FDI rising 36% to over 430 billion baht, government spokesman Anucha Burapachaisri said on Thursday.
Thailand’s Board of Investment (BoI) approved privileges for 2,119 investment projects worth a total 660 billion baht last year. Of these, FDI accounted for over 430 billion baht, rising 36% from the previous year.
China was the biggest foreign investor, followed by Japan, the United States, Taiwan and Singapore.
Anucha said the rise in FDI was attributed to several factors, including the new long-term resident (LTR) visa, and privileges for foreign companies moving their production bases to Thailand.
The BoI also promoted existing industries by strengthening supply chains and logistics, as well as boosting 3-5-year privileges for target industries of electric vehicle, electric digital, creative, and BCG (bio, circular, green) businesses.
Anucha insisted Thailand remained an attractive investment destination compared to other countries in the region, citing infrastructure of international standard, a strong supply chain network, skilled workforce, and raw-material manufacturing.
“The government will continue to promote our strengths and provide investment privileges in key industries to attract future foreign investors,” he said.
