Foreign investment surged by 74% for the first 11 months of this year, reflecting confidence among international investors in the Thai economy.
According to Acting Government Spokesperson Anucha Burapachaisri, Prime Minister Gen Prayut Chan-o-cha received an overview report on foreign direct investment in Thailand over the first 11 months of 2022. The report stated that foreign investments totaled 112,466 million baht, a 74% increase over the same period in 2021, with over 5,000 new jobs generated as a result.
From January to November 2022, the Ministry of Commerce approved 530 requests by foreign investors to conduct business under the Foreign Business Act B.E. 2542, with Japan, Singapore and the United States topping foreign investor nations, respectively. Businesses that have been approved by the Ministry of Commerce are largely related to the Government’s policies on national infrastructure development, public sector investment promotion and S-Curve industries.
The spokesperson said the Prime Minister expressed his elation at the confidence shown by international investors in Thailand’s economic potential, while thanking relevant agencies for their efforts to put policies into action. He said the result was the Thai economy showing positive signs of rapid recovery.
The premier also emphasized the importance of continuing to promote foreign direct investment and ease of doing business. He added that timely investment policies and promoting Thailand as a regional hub will boost investor confidence, thereby ensuring continuous economic recovery as well as employment and revenue creation. (NNT)