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BOI sees strong growth in investment promotion applications in H1 2024
The Board of Investment (BOI) has experienced a 35% increase in investment value for the first half of 2024, driven by key sectors such as electronics, automotive, and agriculture.
The Board of Investment (BOI) reported a 35% increase in investment promotion applications in the first half of 2024, with approximately 1,400 projects totaling 458.36 billion Baht. Key growth sectors include electronics, automotive, and agriculture.
Key Takeaways
- Foreign Direct Investment (FDI) has shown robust growth, with Singapore leading the way in investment, particularly in the electronics industry.
- The BOI aims to enhance Thailand’s competitiveness by attracting investment in new industrial bases, including electric vehicles, semiconductors, and global data centers, with plans for proactive initiatives in the second half of 2024 including roadshows in South Korea, China, India, and Singapore.
- The BOI aims to enhance Thailand’s competitiveness by attracting investments in electric vehicles, semiconductors, and data centers. Upcoming plans involve initiatives in South Korea, China, India, and Singapore to integrate global industries and enhance Thai SME efficiency.
BANGKOK (NNT) – The Board of Investment (BOI) has reported a substantial increase in investment promotion applications for the first half of 2024. There were about 1,400 projects requesting promotion, with a total investment value of 458.36 billion Baht. This represents a 35% increase in investment value compared to the same period last year, according to Narit Therdsteerasukdi, Secretary General of the BOI.
The growth was driven by key sectors such as electronics and electrical appliances, automotive and parts, and agriculture and food processing.
The electronics sector, in particular, attracted the most significant investment, including advanced electronics and smart devices. Foreign Direct Investment (FDI) also showed robust growth, with Singapore leading the way, followed by China and Hong Kong. Singapore’s significant investment, totaling nearly 91 billion Baht, was largely attributed to major projects in the electronics industry initiated by companies with Chinese parent firms.
The Board of Investment (BOI) is dedicated to boosting Thailand’s competitive edge by drawing investments into emerging industrial sectors, including electric vehicles, semiconductors, and international data centers. The strategy for the latter half of 2024 encompasses dynamic measures like hosting roadshows in South Korea, China, India, and Singapore. The objective is to amalgamate global industries with Thailand’s local supply chains and to augment the production proficiency of Thai SMEs, thereby establishing Thailand as a pivotal regional center for cutting-edge industries and technologies.
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