Thailand’s Board of Investment (BOI) announced that, from January to September 2022, a total of 1,247 foreign and local investors applied with the BOI for investment promotion, worth a combined 439.1 billion baht (US$11.6 billion), rising 8% compared with the first nine months of 2021.
From that number, Thailand’s Eastern Economic Corridor (EEC) saw 376 projects, representing a combined investment value of 246.7 billion baht, or 56% of the total value of applications in the first nine months. Most are investments in Rayong and Chonburi provinces.
The total value of foreign direct investment (FDI) was 275.6 billion baht. The main source of FDI applications in the first nine months was China, with 45 billion baht, followed by Taiwan with 39.3 billion baht, and Japan with 37.6 billion baht. Most investments from China and Taiwan were in the manufacturing of new electric vehicles (EVs) and parts, electric appliances, and electronics. (PRD)