Thailand's investment pledges jump 70% in H1, China tops FDI

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Thailand's investment applications between January and June jumped 70% from a year earlier, driven by foreign investors' projects in the electronics, food, and auto sectors, the government said on Monday.

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10 Jul 2023

In the first six months of 2023, applications totalled 364.4 billion baht ($10.37 billion) and foreign direct investment surged 141% on-year to 304 billion baht, the Board of Investment (BOI) said in a statement.

China was the biggest investor, with projects worth 61.5 billion baht, while Singapore and Japan followed with 59 billion baht and 35.3 billion baht, respectively, it said.

The higher first-half pledges were helped by the automotive and related parts industry, which saw 80 investment projects worth 19.6 billion baht, the BOI said.

Thailand, already a major regional auto manufacturing hub, is promoting electric vehicles (EVs) as it also aims to become a hub for EV manufacturing in Southeast Asia.

Investments in EV production approved so far include projects by China's BYD and Great Wall Motor.

Other manufacturers have also announced