In the last two years, under the situation of the Covid-19 pandemic, which disrupted the global economy and the Thai economy, many countries needed to issue measures for economic recovery in their own countries, including Thailand, which issued stimulus measures to boost the economy in many sectors, such as tourism, exports, consumption, and investment from domestic investors and foreign investors. 

        According to the study of foreign investment by the Foreign Business Committee, 480 foreign companies set up operations in Thailand in the first 10 months (Jan-Oct) of 2022, bringing in 106,437 million baht, which was an increase over the same period of 2021 (Jan-Oct), an increase of 34 investors, accounting for 8%, and total investment increased by 44,469 million baht, marking a 72% increase, with 4,635 new jobs generated as a result. 

Among the new foreign companies, the biggest investors were as follows:

Japan, 125 companies (26%), bringing in 37,738 million baht;

Singapore, 75 companies (16%) bringing in 11,693 million baht;

United States of America, 64 companies (13%), bringing in 3,327 million baht;

Hong Kong, 35 companies (7%), bringing in 8,375 million baht; 

and China, 22 companies (5%), bringing in 20, 841 million baht

        Most businesses allowed for foreign investment are in line with the country’s infrastructure development plan and the government investment promotion policy and support for businesses related to target industries, particularly the following:

• Design, construction, installation, and inspection services for energy storage systems for the hybrid power plant project of U-Tapao International Airport;
• Petroleum well-drilling services within the concession area in the Gulf of Thailand;
• Dredging services, sea reclamation, and sediment curtain construction for infrastructure development in the Map Ta Phut Industrial Port Development Project;
• Electric vehicle charging station service for electric cars;
• Engineering and technical services, such as consultation on comprehensive technical expertise in the production of automotive parts and assistance in designing, developing, and testing systems;
• Research, development, and engineering services in scale-up biorefineries for biological processes;
• Services for developing and providing analytical software and linkage to manage “big data” and data analytics.

        The information mentioned above includes the results from the government stimulus measures to boost the country’s economy. The government eased restrictions, reopened the country, and increased facilities for investors, helping Thailand’s economy recover better than in the past two years.

Data updated on February 1, 2022
Source :Report