Thailand
Foreign investment in Thailand reaches $2.5B in 2021
Thailand saw total foreign investment of 82.501 billion baht ($2.5 billion) last year, creating 5,450 jobs for Thais, the commerce ministry announced on January 31.
Japan remained the kingdom’s highest foreign investor, topping the rankings with 23.260 billion baht or 28.6 per cent of total investment via 163 businesses.
The US was second with 5.948 billion baht (15.4 per cent via 88 businesses) and Singapore third with 10.530 billion baht (15.1 per cent via 86 businesses).
Most of the 570 foreign businesses handed licences in 2021 were related to new or S-Curve industries. The government is seeking to attract S-Curve businesses with investment promotions in a bid to drive economic development.
Foreign investment is expected to expand this year amid signs that domestic and international demand have begun to recover.
The trend of investing in joint ventures with Thai companies in order to receive incentives from the Board of Investment should aid recovery of the domestic economy, said deputy commerce minister Sinit Lertkrai.
Ranking in fourth through sixth of the top 10 territories for foreign investment in Thailand last year were Hong Kong with 19.555 billion baht (7.2 per cent via 41 businesses), mainland China with 3.748 billion baht (5.1 per cent via 29 businesses) and the Netherlands with 3.063 billion baht (3.2 per cent via 18 businesses).
Rounding out the top 10 were France with 1.127 billion baht (2.6 per cent via 15 businesses), South Korea with 847 million baht (2.5 per cent via 14 businesses), Germany with 695 million baht (two per cent via 16 businesses) and the UK with 636 billion baht (1.5 per cent via nine businesses).
Other countries accounted for 16 per cent of foreign investment (13.093 billion baht) via 91 businesses.
THE NATION (THAILAND)/ASIA NEWS NETWORK