Foreign investments soar in 1H22

• Investments by overseas companies registered under the Foreign Business Act (FBA) rose by 73.5% y/y in 1H22, led by Japan, Singapore and the US, driven by the government’s investment promotion policy.
• Deputy Commerce Minister Sinit Lertkrai said the Foreign Business Committee permitted 284 investment applications by overseas companies in the first half of 2022, up by 7.58%, with combined investments of THB69.9bn, up by 73.5% y/y.
• The investments are mainly in the service business, in which Thailand is open to those from overseas under the Foreign Business Act.
• The largest number of investments came from Japan (totalling 71), worth THB26.2bn, followed by Singapore (51), worth THB10.4bn, and the US (35), worth THB2.9bn.
• Mr Sinit attributed the higher foreign investments to the government’s investment promotion policy and the support given to businesses working in Thailand’s targeted industries.
• In 1H22, 55 foreign bodies invested in the government’s flagship Eastern Economic Corridor (EEC), with combined investments of THB29.4bn.
• That represented 42% of all foreign investment in 1H22.
• The Japanese accounted for 24 of the EEC investments with a value of THB18.4bn, followed by Singaporeans (6) with a value of THB1.79bn, and Americans (4) with a value of THB996mn. Investors from other countries contributed the rest.
• “For the remaining six months of 2022, we expect continued foreign investment in Thailand due to the government’s investment promotion measures, the state economic stimulus measures, the country’s reopening to international tourists, and greater convenience in doing business. These factors will help make the economy recover faster,” said Mr Sinit.

External Link : https://www.bangkokpost.com/business/2354037/foreign-investments-soar-in-first-6-months