Thailand’s investment applications hit 10-year high in Jan.-Sept.

BANGKOK, Oct. 21 (Xinhua) — Thailand’s investment applications between January and September rose 42 percent from a year earlier to a combined 722.52 billion baht (21.62 billion U.S. dollars), marking a record high in a decade due to a major surge in foreign investments, official data showed on Monday.
During the first nine months of 2024, the Southeast Asian country’s overall investment applications recorded an increase of 46 percent from the previous year to 2,195 projects, while foreign direct investments picked up 38 percent to 546.61 billion baht (16.36 billion dollars), according to the Board of Investment (BOI).
The surge in investment pledge highlights investors’ growing confidence in Thailand as an optimal, strategically located, safe and resilient hub for key tech industries, BOI Secretary General Narit Therdsteerasukdi said in a statement.
Narit noted that the kingdom’s strong digital infrastructure, clean energy resources and robust government support create an ideal environment for investments in data centers and advanced technology sectors, including wafer manufacturing.
According to the BOI, applications for projects in targeted industries accounted for 68 percent of the total investment value, led by the electrical and electronics sector, the digital sector, the automotive and parts sector, and the agriculture and food processing sector. ■