Foreign investment pledges for Thailand fall by one third

Thailand’s Board of Investment headquarters in Bangkok

Applications of foreign investors to put money into projects and businesses in Thailand fell by 29 per cent in the first three quarters of 2020 to 118.5 billion baht ($3.82 billion) as investors were deterred by the coronavirus pandemic and some also by continued political instability in the country.

Despite the drop, foreign investors remained interested in the country, at least according to Duangjai Asawachintachit, secretary general of Thailand’s foreign investment agency Board of Investment (BoI).

“Investors who plan to invest in Thailand will consider long-term factors more than short-term factors. Thailand is still attractive for them,” she said.

Japan remains Thailand’s biggest investor, with projects worth 37.5 billion baht ($1.21 billion), followed by China with 21.2 billion baht ($680 million) of pledges.

Overall investment to drop by 60 per cent

Combined domestic and foreign investment pledges in the first nine months of the year declined 15% from a year earlier to 223.7 billion baht ($7.21 billion), mainly due to a smaller average size of projects.

That came amid a decline in investment globally due to the coronavirus pandemic, the BoI said.

The agency aims to attract 300 billion baht ($9.67 million) of overall investment (foreign and domestic) this year, a 60 per cent decline from 2019.

Duangjai said the BoI hopes new incentives will spur more investment, for example resuming accepting applications for investments in the electric vehicles sector, which was stopped in 2018.



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Thailand's Board of Investment headquarters in Bangkok Applications of foreign investors to put money into projects and businesses in Thailand fell by 29 per cent in the first three quarters of 2020 to 118.5 billion baht ($3.82 billion) as investors were deterred by the coronavirus pandemic and some also by continued political instability in the country. Despite the drop, foreign investors remained interested in the country, at least according to Duangjai Asawachintachit, secretary general of Thailand’s foreign investment agency Board of Investment (BoI). “Investors who plan to invest in Thailand will consider long-term factors more than short-term factors. Thailand is...

Thailand’s Board of Investment headquarters in Bangkok

Applications of foreign investors to put money into projects and businesses in Thailand fell by 29 per cent in the first three quarters of 2020 to 118.5 billion baht ($3.82 billion) as investors were deterred by the coronavirus pandemic and some also by continued political instability in the country.

Despite the drop, foreign investors remained interested in the country, at least according to Duangjai Asawachintachit, secretary general of Thailand’s foreign investment agency Board of Investment (BoI).

“Investors who plan to invest in Thailand will consider long-term factors more than short-term factors. Thailand is still attractive for them,” she said.

Japan remains Thailand’s biggest investor, with projects worth 37.5 billion baht ($1.21 billion), followed by China with 21.2 billion baht ($680 million) of pledges.

Overall investment to drop by 60 per cent

Combined domestic and foreign investment pledges in the first nine months of the year declined 15% from a year earlier to 223.7 billion baht ($7.21 billion), mainly due to a smaller average size of projects.

That came amid a decline in investment globally due to the coronavirus pandemic, the BoI said.

The agency aims to attract 300 billion baht ($9.67 million) of overall investment (foreign and domestic) this year, a 60 per cent decline from 2019.

Duangjai said the BoI hopes new incentives will spur more investment, for example resuming accepting applications for investments in the electric vehicles sector, which was stopped in 2018.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Personal Info

Donation Total: $10.00

 

 

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