Home Featured Thailand is an Investment Hot Spot

Led by Medical and E&E, FDI more than doubles – BOI

The Thailand Board of Investment (BOI) said on 5 May 2021 that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht ($3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled. 

The total number of project applications filed, 401, was 14% higher than the 351 filed in the January-March quarter of last year, the BOI said. Out of that total, the 191 FDI projects represented a combined application value of 62 billion baht, a 143% increase from the adjusted 25.6 billion baht in total value of the 231 FDI applications submitted in the first three months of 2020.

The top three source countries of FDI applications during the first quarter were South Korea, China, and Singapore, with similar levels of investment. Korean investment soared due to a large-scale joint venture in the medical sector, Ms Duangjai said.

Applications for investment in the target industries, all key sectors that are driving forces of Thailand’s economy, totalled 74.8 billion baht in combined value during the first quarter. 

The medical sector was the sector attracting most investment with a total of 29 projects worth 18.4 billion baht, over 100 times more than a year earlier, followed by E&E with 34 projects worth 17.4 billion baht.

The Eastern Economic Corridor, or EEC area, which comprises the provinces of Chonburi, Rayong and Chachoengsao, attracted 117 projects applications during the quarter with a combined investment value of 64.4 billion baht which was 39% higher than the total value of the 111 projects filed in the same period of 2020. 

Applications for investment promotion under the BOI measures to improve production efficiency also saw a sharp increase, with 39 projects with combined investment value of 8.4 billion baht, almost six times the amount seen in the same period of 2020, Ms Duangjai said. These included 21 projects aiming to improve energy efficiency and to reduce environmental impact, with a total investment amount of 5.6 billion baht, 16 machinery upgrade projects with total investment of 2.5 billion baht, as well as two research & development projects.

In the whole of 2020, investment applications received by the BOI had a combined value of 481.1 billion baht, with the electric and electronics, agriculture and food processing sectors leading the way and the medical sector seeing a surge from the second quarter onward due to the impact of the coronavirus pandemic on demand for medical supplies and devices.

Thailand Board of Investment

Tel. +66 (0) 2553 8111

Website: www.boi.go.th

YouTube: Think Asia, Invest Thailand

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

Latest Articles

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.
CLOSE