Thailand Sees 60% Surge in Foreign Investment in the First Nine Months

Foreign investment in Thailand surged 60% to 134 billion baht in 2024, primarily from Japan, creating 2,505 jobs, with major contributions from platform and software sectors totaling 28.3 billion baht.

Key Points

• Foreign investment in Thailand surged by 60% to 134 billion baht in the first nine months of 2024, primarily driven by Japanese investors, who contributed 74 billion baht. A total of 636 businesses received approvals under the Foreign Business Act, marking a 29% increase from the previous year.
• The foreign investment influx resulted in the creation of 2,505 jobs for Thai workers, showcasing its positive impact on local employment levels and economic growth.
• The platform and software sectors attracted significant foreign capital, totaling 28.3 billion baht, highlighting their importance in Thailand’s economic strategy. Other notable investors included Singapore, Taiwan, and Malaysia, emphasizing technology-driven sectors’ role in attracting investment.

In 2024, foreign investment in Thailand surged impressively by 60%, reaching a total of 134 billion baht within the first nine months of the year. This remarkable growth was largely driven by Japanese investors, who emerged as the predominant source of foreign capital, contributing 74 billion baht through 157 applications. Such a substantial influx of funds underscores an increasing confidence among international investors in the Thai market.

The positive implications of this investment boom on local employment are significant, with the creation of 2,505 jobs for Thai workers. This reflects the broader economic benefits that foreign investment brings, particularly in an era where nations are vying for economic stability amid global uncertainties. Government spokesperson Jirayu Houngsub announced that 636 businesses received approvals under the Foreign Business Act—a notable increase of 29% compared to the previous year—further indicating the attractiveness of Thailand as a destination for foreign capital.

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Particularly noteworthy is the strong performance of the platform and software sectors, which alone attracted 28.3 billion baht. This illustrates a strategic shift towards technology-driven industries, identifying them as vital for Thailand’s ongoing economic development. Singapore, Taiwan, and Malaysia were highlighted as significant investors in these sectors, bolstering Thailand’s ambition to position itself as a regional investment hub.

In summary, the surge in foreign investment, primarily fueled by Japan, signals a robust recovery and growth potential for the Thai economy, particularly through job creation and reliance on advanced technology sectors. As Thailand navigates a rapidly changing global landscape, continued focus on enhancing its investment climate appears essential to sustaining this positive trajectory.

Source : Thailand’s foreign investment soars 60% in first nine months