According to Thailand’s Board of Investment (BOI), the number of applications to invest in Thailand increased to 401 applications in the first quarter of 2021, up by 14% from 351 applications in the same quarter of the previous year. The investment value in the first quarter of 2021 totaled THB 123.4 billion (USD 3.9 billion), led by projects in the medical and electric & electronics (E&E) sectors.
Out of 401 investment projects applied in the first three months of 2021, there were 191 FDI projects, constituting a combined application value of THB 62 billion (almost USD 2 billion), a 143% increase from the total value of FDI projects submitted in the first three months of 2020. According to the BOI, the top three sources of FDI applications were South Korea, China, and Singapore.
In terms of sector, the medical sector attracted the most investment with 29 projects worth THB 18.4 billion (USD 591.5 million), followed by the electric & electronics (E&E) sector with 34 projects worth THB 17.4 billion (USD 559.3 million).
In terms of location, there were 117 investment projects, worth THB 64.4 billion (USD 2 billion), targetting Thailand’s·East Economic Corridor (EEC). The EEC, consisting of three provinces Chonburi, Rayong, and Chachoengsao, is a centerpiece of the Thai government’s efforts to boost growth, innovation, and connectivity.
(Sources: Bangkok Post; BOI)
Investment Applications in Thailand Skyrocket in the First Quarter of 2021
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