Thai government spokesman Anucha Burapachaisri on March 2 said the country’s foreign direct investment (FDI) attraction remained strong in 2022, with FDI rising 36% to over 430 billion THB (12.3 billion USD).

Thailand’s Board of Investment (BoI) approved privileges for 2,119 investment projects worth a total 660 billion THB in 2022.

China was the biggest foreign investor, followed by Japan, the US, Taiwan (China) and Singapore.

The spokesman said the rise in FDI was attributed to several factors, including the new long-term resident (LTR) visa, and privileges for foreign companies moving their production bases to Thailand.

The BoI also promoted existing industries by strengthening supply chains and logistics, as well as boosting 3-5-year privileges for target industries of electric vehicle, electric digital, creative, and BCG (bio, circular, green) businesses.

He insisted Thailand remained an attractive investment destination compared to other countries in the region, citing infrastructure of international standard, a strong supply chain network, skilled workforce, and raw-material manufacturing.

The government will continue to promote strengths and provide investment privileges in key industries to attract future foreign investors, he added./.

Source: Vietnam News Agency