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493 foreign investors chose Thailand in the first nine months of 2023
Thailand has seen a rise in foreign investors, creating jobs and generating revenue, but the investment value dropped by 15% year-on-year.
According to a report assessing permissions for foreign business operations, a total of 493 foreign investors established businesses in Thailand in the first 9 months of 2023. Out of these, 166 obtained business licenses for foreigners and 327 obtained business certifications for foreigners. This resulted in a cumulative investment value of around 84 billion baht and the employment of over 5,700 Thai nationals.
Foreign investment in Thailand has reached 84 billion baht in the first nine months of this year. It is noteworthy that Japan remains at the forefront of investment, particularly in the development of businesses within the country.
In terms of investment value, Japan once again emerged as the leader with a total investment of 22.9 billion baht. Following closely behind is Singapore with 20.5 billion baht, followed by China with 13.3 billion baht. Hong Kong contributed 5.36 billion baht, while the United States invested 3.98 billion baht.
These investments have resulted in the employment of 5,703 Thai workers, which represents a significant increase of 41% for the given period.
The top five countries with the highest number of investment applications are Japan, the US, Singapore, China, and Hong Kong. Japan leads the pack with 111 applications, followed by the US with 80, Singapore with 77, China with 38, and Hong Kong with 20.
In September only, 59 foreign investors were granted permission to conduct business in Thailand, up 22% year-on-year, with a total investment of 18.2 billion baht. Most were from Japan, China and Hong Kong. The enterprises employed 1,219 Thai workers.
During the first nine months of this year, a significant number of foreign investors, totaling 99, have expressed their interest in investing in the Eastern Economic Corridor (EEC). This represents approximately 20% of the total number of foreign investors. The value of investments in the EEC has reached an impressive 16.1 billion baht, accounting for approximately 19% of the total investment value.
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