DoBD hails investments worth B89bn
Foreign investment in Thailand from January until May was 88.94 billion baht, marking an increase of 17.2 billion baht or 24% compared to the same period last year, it said. Japan remained the top investor, followed by Singapore and China, according to the department's figures, which suggest that not all is doom and gloom, contrary to some news reports.
Auramon Supthaweethum, director-general of the DoBD, said Thailand is attracting foreign investors, with 426 foreign entities permitted to run businesses today under the Foreign Business Act.
Of these, 105 entities received foreign business operation licences, while 321 were certified under special investment channels, including Board of Investment privileges, industrial estate laws and international agreements, she said.
During the first five months of the year, 85 entities from Japan invested 41 billion baht in raw materials procurement, machine components, software development and services. In addition, 52 entities from Singapore invested 11.4 billion baht in design, procurement, installation, testing and operations consulting for rail transit control systems and digital service platforms. Fifty-three Chinese entities, meanwhile, invested 7.54 billion baht in wholesale industrial parts, such as metallic components and the contracting of manufacturing for vehicle parts, electrical appliances and eco-friendly packaging.
Ms Auramon said the presence of foreign businesses has helped the transfer of specialised knowledge and technology to local industries, especially the tech sector, which would help give the economy a further boost.
Interest in Thailand's Eastern Economic Corridor also continued to rise in the first five months of the year. The department said 129 foreign entities had chosen to invest in the EEC region, up by 30 investors when compared to the same period last year. The total amount of investments in the EEC has reached 47.7 billion baht, accounting for 54% of foreign investment nationwide.
The top EEC investors are from Japan with 37 projects worth 23.90 billion baht, China with 30 projects worth 4.4 billion baht, Singapore with 11 projects worth 6.02 billion baht and others with a combined 51 projects worth 13.37 billion baht.
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