Business

Foreign investment applications rise 69% in first nine months

Published

Wednesday, November 6, 2019 08:10

PHOTO: Bloomberg

Thailand continues attracting foreign direct investment, with applications rising 69% in the first nine months of 2019, according the Board of Investment (BOI).

Applications in the electronics and electrical sector, and the digital and automotive sectors, represented 131.78 billion baht, or 65% of the total. The value of applications, up to September this year, was 203.37 billion baht, according to latest data from the BOI.

Out of 689 project bids, Japan, Thailand’s biggest source of foreign investment, comes in first with applications for 167 projects worth 59.19 billion baht. China follows with 139 projects worth 45.44 billion, and Switzerland, with 15 projects worth 11.71 billion, BOI data shows.

The BOI Secretary General says the healthy rise in applications came, despite the fluctuations in the global economy.

“We expect the growth momentum of FDI and overall investment to continue to expand into 2020.”

Overall applications including domestic investments totaled 1,165, up 11% year on year. About half of those are for projects in the digital sector, with 143 projects. Agriculture and food processing saw 132 projects, and the electronics and electrical sector, saw 103 applications.

SOURCE: thailand-business-news.com

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News Categories: Business Thailand

Related Topics:economy Foreign investment investment Japan

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Jack Burton

Jack Burton is an American writer, broadcaster, linguist and journalist who has lived in Asia since 1987. A native of the state of Georgia, he attended the The University of Georgia's Henry Grady School of Journalism, which hands out journalism's prestigious Peabody Awards. His works have appeared in The China Post, The South China Morning Post, The International Herald Tribune and many magazines throughout Asia and the world. He is fluent in Mandarin and has appeared on television and radio for decades in Taiwan, Mainland China, Hong Kong and Macau.

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