Foreign investment in Thailand sees a sharp increase in 2022
Thailand remains attractive to foreign investors as borne out by investments of more than 80 billion baht in the country over the past eight months this year, up 66 per cent year on year, the Commerce Ministry said on Friday.
Deputy Commerce Minister Sinit Lertkrai said 381 foreign entrepreneurs, who were allowed to operate their business in Thailand between January and August this year, had invested 83.28 billion baht and hired more than 3,762 Thais.
He said the top five foreign investors during the period came from Japan (32.89 billion baht), Singapore (10.66 billion baht), the US (3.27 billion baht), Hong Kong (7.78 billion baht) and Germany (1.20 billion baht).
"Most of the businesses are in line with the government's new S-curve industries promotion policy, such as energy storage installation, integrated power plant construction and petroleum exploration," he said.
Sinit added that 69 foreign investors had invested 33.23 billion baht in the Eastern Economic Corridor (EEC) over the past eight months, accounting for 40 per cent of total investment in the EEC.
He said the top three foreign investors in the EEC during the period came from Japan (21.98 billion baht), Singapore (1.82 billion baht) and the US (1.07 billion baht).
Most of the investments in the EEC were in fuel pump module manufacturing, engineering and technical services, he added.
He also expected more foreign investors to operate their business in Thailand in the remainder of this year, as the government has eased travel restrictions and launched measures to help investors.