BOI: Over 3,100 New Investment Projects Make 2024 Thailand’s Golden Year

investment

BANGKOK — Thailand’s Board of Investment (BOI) has achieved unprecedented success in attracting investment applications in 2024, marking what officials call a “golden year” for foreign investment in the country. The total value of investment applications reached 1.13 trillion baht ($32.5 billion), the highest in a decade, while the number of projects hit a historic high of 3,137.

BOI Secretary-General Narit Therdsteerasukdi announced that investment applications increased by 40% compared to the previous year, with the total investment value rising by 35%. This surge represents a significant opportunity for Thailand to establish new industrial bases and transform its economic structure in the long term.

The investment promotion certificates, which indicate projects closer to actual implementation, also showed remarkable growth. In 2024, BOI issued 2,678 certificates, up 47% from the previous year, with a total investment value of 846.4 billion baht, representing a 72% increase. This suggests substantial actual investment will flow into Thailand’s economy over the next 1-2 years.

Narit Therdsteerasukdi
Narit Therdsteerasukdi

“Despite global challenges from trade wars and geopolitical tensions, Thailand has proven itself as a neutral and reliable investment destination in the region,” Therdsteerasukdi stated.

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He highlighted continued investment growth from major powers including China and the United States, as well as traditional investors like Japan, Hong Kong, Taiwan, and European nations, particularly in high-technology industries such as semiconductors, advanced electronics, smart appliances, AI-supported data centers, electric vehicles, and biotechnology.

Looking ahead to 2025, BOI maintains an optimistic outlook, targeting investment applications worth over 1 trillion baht. The agency plans to focus on attracting investments in future industries and positioning Thailand as a regional hub for advanced technology. This strategy appears well-timed, as growing global trade tensions and technology restrictions are prompting investors to seek stable investment destinations, with Thailand emerging as an attractive option in the region.

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