Thailand is regarded as an investment destination for investors worldwide, as evidenced by the number of applications for investment promotion in 2023, with a total of 2,119 projects applying for investment promotion, a 41 percent increase over the same period in 2021, and an investment of 664,630 million baht, a 39 percent increase, which is considered the highest value since the COVID situation.

        Furthermore, 1,490 projects received promotional certificates, a 9 percent increase, and the investment value was 489,090 million baht, a 21 percent increase, indicating that real investment will increase in the next 1-2 years.

        The investment value for applications for investment promotion in 12 targeted industries is 468,668 million baht, accounting for 71% of the total value of the application for investment promotion. The most money was invested in electronics and electrical appliances (129,475 million baht), followed by the automotive and parts industry (105,371 million baht), agriculture and food processing (81,731 million baht), petrochemical and chemical industries (59,762 million baht), and the digital industry (49,458 million baht).

        In addition to the targeted industries, businesses with high investment capital include electric power generation, especially renewable energy, industrial estate development, transportation, and logistics.

        In 2022, there will be large investment projects in many industries, including electric vehicle manufacturing (BEV, PHEV, and Hybrid) worth more than 53,000 million baht (important investors such as BYD and Horizon Plus), data center business worth more than 42,000 million baht (major investors such as Amazon Web Services (AWS)), and PTT's natural gas separation plant worth more than 18,000 million baht.

The Number of Investment Requests in the EEC Nearly Doubled

        Investment in the Eastern Economic Corridor (EEC), a key target area, accounted for more than half of total investment applications. There were 637 projects that applied for investment promotion, totaling 358,833 million baht, an increase of 84%. Investment values were concentrated in specific industries such as automotive and electronic parts and electrical appliances, biotechnology, and other industries such as electric power generation, industrial estate development, cargo handling for cargo ships, and so on.

        Applications for foreign direct investment promotion (FDI) were worth 433,971 million baht, a 36 percent increase over the same period in 2021, with China having the highest value, 77,381 million baht, followed by Japan, worth 50,767 million baht, the United States, worth 50,296 million baht, Taiwan 45,215 million baht, and Singapore 44,286 million baht.

        The significant increase in investment promotion applications in 2022 reflects investor confidence in Thailand's potential, particularly as a key production and investment base in the region. With a stable and stable supply chain, as well as supporting industrial bases and personnel ready to invest in new industries such as electric vehicles, smart electronics, and digital, major investing countries such as China, Japan, and the United States choose to plant investment pins in Thailand as scrambles for investment from countries around the world increase.