Thailand’s New Strategies to Attract Foreign Investors

March 2023

Foreign investment soared by 56% to THB 129 billion (USD 3.9 billion) in value in 2022, with Japan topping the list in terms of budget to develop businesses in Thailand. Japan’s investment value tallied THB 39.5 billion (USD 1.2 billion), followed by China at THB 23.3 billion (USD 0.7 billion) and Hong Kong at THB 18.2 billion (USD 0.5 billion), according to the Commerce Ministry.

The Thai Board of Investment (BoI) has unveiled its strategies to attract foreign investors over the next three to five years. The board’s strategies align with the country’s long-term socio-economic development plans, and support manufacturing and industrial sectors so that local and foreign companies can develop the foundation for their growth in Thailand.

Under the new strategies, BoI plans to focus more on promoting the bio-circular-green economic model, electric vehicles, and digital and creative businesses. It will follow new investment trends, such as diversification, green investments, and smart manufacturing.

BOI plans to focus on convincing foreign investment and global companies to set up their regional hubs in Bangkok to take advantage of electric trains serving all areas of the city and its vicinity, including airports and ports. Foreign direct investors can benefit from the availability of infrastructure and logistics, qualified personnel, regulations favorable to the business sector, supporting industrial bases, reasonable costs and government benefits.

(Source: Bangkok Post)

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