In the first month of 2023, foreign investment in Thailand amounted to 5.129 billion baht, the biggest investors being the Japanese, investing 3.588 billion baht.
Foreign investment is expected to reach 100 billion baht by the end of the year.
Today, Deputy Minister of Commerce Sinit Lertkrai revealed 52 cases of foreign investment in January under the Foreign Business Act (1999).
Of those, 22 invested by obtaining a foreign business license and 30 invested by obtaining a foreign business certificate.
Foreigners invested 5.129 billion baht in total.
The top foreign investors were from…
- Japan (14 investors totalling 3.588 billion baht)
- Singapore (six investors totalling 410 million baht)
- USA (six investors totalling 9 million baht)
- UK (five investors totalling 98 million baht)
- China (three investors totalling 548 million baht)
Most of the foreign business approved in January 2023 is in line with Thailand’s development plan, including…
- Design, purchase, supply, install, and development of electric train projects
- Petroleum drilling devices to be used in the Gulf of Thailand
- Digital rights management systems
- Engineering and technical services
- Digital platform development services
The investments also included technology transfer, in which the investor sends technology knowledge directly to Thailand which aims at transforming inventions and scientific outcomes into new products and services that benefit society, such as 3D design, computer knowledge, transport knowledge and media knowledge.
The Ministry of Commerce predicts that foreign investment will amount to at least 100 billion baht by the end of the year, thanks to the full reopening of the country.
Foreign businesses are expected to grow in various industries including tourism, electric vehicles, agriculture, bio-food, health and digital businesses.
Comparatively, China was the biggest source of investment in Thailand in 2022. The world’s second-largest economy poured US$2.3 billion (79 billion baht) into electronics, automotive and data centres.
China and Japan fight over the number one spot, with China being the biggest investor in 2019, and Japan taking over in 2020 and 2021.
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