The Thailand Board of Investment (BOI) has reported a 35% increase in investment promotion applications during the first half of 2024, amounting to 458.4 billion baht. Foreign Direct Investment (FDI) expanded by 16%, with significant contributions from Singapore, China, and Hong Kong. The BOI has plans to attract additional investments in the semiconductor and electric vehicle (EV) sectors through a series of roadshows.
BANGKOK, July 25, 2024 /PRNewswire/ — The Thailand Board of Investment (BOI) said today that applications for investment promotion during January to June 2024 increased 35% on year in value to a combined 458.4 billion baht (US$ 12.8 billion), especially in target sectors such as Electronics and Electrical Appliances, automotive and parts, chemicals, and data centers, as well as a sustained growth in foreign direct investments (FDI), which grew 16%, and the setup of a large number of regional headquarters.
The number of applications for investment promotion in the first half of the year increased 64% to 1,412 projects, from 863 projects in the same period last year. The adjusted investment value of the projects applied in the first half of 2023 was 339.7 billion baht.
“In the first half, we saw a continued growth both in terms of the number of projects and investment value, reflecting the economic potential of Thailand and investors’ confidence in our country as a safe and resilient production base,” said Mr. Narit Therdsteerasukdi, Secretary General of the BOI.
“The applications included 19 international business center projects, a very encouraging number as it means more senior management and talent setting up in Thailand.”
Mr. Narit Therdsteerasukdi, Secretary General of the BOI.
Among the applications, 723 were in target industries, representing a combined value of 289.7 billion baht. Applications in the ten target sectors accounted for 51% of the total number of projects, and for 63% of the total value of applications.
The industry with the highest number of projects…
