The Thailand Board of Investment (BOI) announced a 35% rise in investment proposals for the first half of 2024, amounting to 458.4 billion baht ($12.8 billion). Electronics and electrical appliances, automobiles, chemicals, and data centres are among the key growing areas. Foreign direct investment (FDI) increased by 16%, with a significant increase in regional headquarters.
Applications increased by 64% to 1,412 projects from 863 in the same period last year, indicating trust in Thailand as a solid production base.
Mr. Narit Therdsteerasukdi, Secretary General of the BOI, highlighted 19 new international business centre initiatives that aimed to attract top management and talent. Target industries included 723 applications worth 289.7 billion baht, which accounted for 51% of all projects and 63% of total application value. The Electrical Appliances and Electronics (E&E) industry led 181 projects totalling 139.7 billion baht, including 31 printed circuit board projects valued at 39.7 billion baht.
FDI saw 889 projects, representing an 83% growth, totalling 325.7 billion baht.
Singapore led in FDI applications, with 120 projects totalling 91 billion baht, followed by China, Hong Kong, Japan, and Taiwan. Looking ahead, the BOI intends to attract investment in semiconductors, electric vehicles, and data centres through roadshows in South Korea, China, India, and Singapore.
