He added that these investments created 447 jobs for locals and brought in advanced technology, such as oil well control, advanced solar panel design and installation of electric vehicle charging stations.

Most businesses given the go-ahead in March match the government’s policy to promote investment and support industry to boost the economy, he said.

He added that 29 of the investors were based in Bangkok and 10 in the Eastern Economic Corridor (EEC). The 10 foreigners invested 6.32 billion baht in EEC, accounting for 58 per cent of all foreign investment.

Of the 10 investors, three hail from China and have invested 3.18 billion baht, two come from Japan with 630 million baht, and one from the US with 637 million baht, he said.

The EEC investors are focusing on the telecommunications and mobile phone industry, international trading companies, raw materials and spare parts as well as the manufacturing of automobile parts, he added.