Investment in Thailand continues to show a positive growth trend, particularly in the industrial and high-tech sectors, aligning with the Thai government's policy to promote economic development and modern industries. According to the Board of Investment (BOI), in 2024, the total value of investment promotion applications reached over 1.13 trillion baht, a 35% increase compared to the previous year, marking the highest level in a decade, with more than 3,100 projects submitted. This reflects investors' confidence in Thailand's readiness in various aspects, including infrastructure, industrial zones, electricity systems, and comprehensive supply chains.

Overview of Foreign Investment Projects Foreign investment continues to thrive in 2024, with over 2,000 foreign projects applying for investment promotion, accounting for 65% of all investment promotion applications. The majority are in the machinery and automotive industries, including projects for electric vehicles (EVs) and internal combustion engine (ICE) vehicles, with car manufacturers from China, Japan, and Europe leading. Following these are the electrical and electronics industries, as well as the metal and materials industries.

In terms of the value of foreign investments, it exceeds 800 billion baht, primarily in the electrical and electronics industries, followed by the digital sector, including data centers, cloud services, and software development for digital platforms.

The number of foreign projects continues to expand, with China leading in the number of applications for investment promotion in 2024. China submitted the highest number of applications, totaling 810 projects, which accounts for 40% of all foreign investment projects. The top five countries/economic zones with the highest number of applications for investment promotion are:

(1) China: 810 projects, valued at 174.638 billion baht

(2) Singapore: 305 projects, valued at 357.540 billion baht

(3) Japan: 271 projects, valued at 49.148 billion baht

(3) Hong Kong: 177 projects, valued at 82.266 billion baht

(4) Taiwan: 126 projects, valued at 49.967 billion baht

Although the value of investments from China (174.638 billion baht) is lower than that from Singapore (357.540 billion baht), part of Singapore's investment is driven by large investments from companies with parent companies based in China and the United States, which have chosen Singapore as a base for expanding investments, particularly in data center and cloud service businesses, which are high-value investments crucial for developing the digital economy in Southeast Asia.

The Eastern region is a hub for foreign investment. Thailand's eastern region continues to attract foreign investors, with over 1,200 projects applying for support, followed by the central region with 674 projects. This indicates economic growth in the provinces from central to eastern Thailand. The increase in investments in these areas has led to an influx of both foreigners and Thais seeking employment, resulting in a rising demand for housing and property prices in these regions.

Thailand's eastern region is continuously being developed as a central industrial hub, particularly in coastal areas such as Chonburi, Rayong, and Chachoengsao, which are part of the Eastern Economic Corridor (EEC). This region plays a vital role in Thailand's economy in terms of production, exports, and foreign investment. The eastern region is also home to many large industrial estates, particularly in the automotive, petrochemical, electronics, and high-tech industries, supported by modern infrastructure such as Laem Chabang Port, U-Tapao Airport, and highways connecting to other regions of the country. Additionally, there is government support for investments in the form of tax incentives and business facilitation measures.

Reference: https://www.boi.go.th/index.php?page=statistics_oversea_report_st