The Committee on Foreign Business Operations has released foreign investment figures for the first 7 months of 2023 (January through July). Under the Foreign Business Act of 1999, a total of 377 foreign entities invested 58.95 billion baht. These investments resulted in the employment of 3,594 Thai persons.
Comparing the number of foreign investors in the first 7 months of this year to the same period last year, there was an increase of 54 people or 17 percent. The number of Thai workers also increased by 286 people or 9 percent to a total of 3,594 workers per month. However, the total value of investment decreased from 73.624 billion baht to 58.95 billion baht, a decrease of 14.674 billion baht or 20 percent.
In July 2023, the number of foreign investors reached 51 people, an increase of 31 percent compared to the same month last year. The total amount of investment increased by 173 percent to 10.023 billion Thai baht, and employment of Thai citizens increased by 17 percent to 372 people.
The top 5 countries with the highest foreign investment are as follows:
1. Japan: 84 investors with an investment of 19.893 billion baht.
2. United States: 67 investors, but with a total investment of only 3.044 billion baht.
3. Singapore: 61 investors with an investment of 12.925 billion baht.
4. China: 28 investors with an investment of 11.663 billion baht.
5. Germany: 16 investors with an investment of 1.298 billion baht.
Tossapon Thangsubutr, director general of the Department of Economic Development, noted on August 18 that most of the invested companies are in line with infrastructure development and investment promotion policies to improve Thailand’s competitiveness. These include services related to oil drilling in the Gulf of Thailand, software services, and various engineering and technical services.
For investments in the Eastern Economic Corridor (EEC), there were 73 foreign investors in the first 7 months of 2023, an increase of 24 percent, accounting for 19 percent of the total number of investors. However, the investment value decreased by 61 percent, totaling 12.348 billion baht, which constitutes 21 percent of the total investment value.
In July 2023 alone, there were 12 investors, a 200 percent increase compared to the previous year, but the investment amount decreased by 25 percent, totaling 1.576 billion baht.
Key foreign investors include:
1. Japan: 31 investors with an investment of 5.379 billion baht.
2. China: 12 investors with an investment of 893 million baht.
3. South Korea: 5 investors with an investment of 287 million baht.
4. Other countries: 25 investors with a combined investment of 5.789 billion baht.
Investment areas include consulting for the management of production processes in various industries, engineering and technical services such as machine design and manufacturing, and the production and design of automotive components.
