Top 5 nationalities investing in Thailand in Q1

Foreigners invested 33 billion baht into Thailand in the first quarter of the year, a government spokesperson revealed today. Investors from Japan invested the most, followed by investors from Singapore and the USA, respectively.

A spokesperson for the Prime Minister’s Office and Deputy Secretary-General to the Prime Minister Anucha Burapachaisri revealed that the government approved investment from 174 foreign investors in Q1 under the Foreign Business Act (1999).

Thailand’s Top 5 Foreign Investors (Q1 2023)

1. Japan (46 investors)
2. Singapore (30 investors)
3. USA (25 investors)
4. China (10 investors)
5. Switzerland (nine investors)

According to data from the Department for Business Development, Ministry of Commerce, Thailand received 33.048 billion baht from foreign investors in Q1, creating employment for 1,932 Thai people as well as the transfer of knowledge to Thai people.

Most investments went into developing the country’s infrastructure. Some 31 foreigners invested a total of 3.264 billion baht in the Eastern Economic Corridor (EEC), representing 18% of the total number of foreign investors in Q1, said the spokesperson.

Changan Automobile Co., Ltd., – a leader in the electric vehicle (EV) industry and fourth largest car manufacturer in China – has decided to invest more than 9.8 billion baht in Thailand to build its first EV production base outside China.

The company aims to produce 100,000 cars per year and export them to customers all around the world to demand the rapidly rising demand for EVs.

In February, the Deputy Ministry of Commerce Sinit Lertkrai reported that 52 foreigners invested 5.129 billion baht into Thailand in January 2023 alone.

According to Sinit, the top foreign investors in January were from…

1. Japan (14 investors totalling 3.588 billion baht)
2. Singapore (six investors totalling 410 million baht)
3. USA (six investors totalling 9 million baht)
4. UK (five investors totalling 98 million baht)
5. China (three investors totalling 548 million baht)

The Ministry of Commerce predicts that foreign investment will amount to at least 100 billion baht by the end of the year thanks to Thailand’s full reopening.