BANGKOK, Oct 21 (Bernama-Xinhua): Thailand's investment applications between January and September rose 42 per cent from a year earlier to a combined 722.52 billion baht (US$21.62 billion - RM93 billion), marking a record high in a decade due to a major surge in foreign investments.
During the first nine months of 2024, the South-East Asian country's overall investment applications recorded an increase of 46 per cent from the previous year to 2,195 projects, while foreign direct investments picked up 38 per cent to 546.61 billion baht (US$16.36 billion), according to the Board of Investment (BOI).
The surge in investment pledges highlight investors' growing confidence in Thailand as an optimal, strategically located, safe and resilient hub for key tech industries, BOI Secretary General Narit Therdsteerasukdi said in a statement.
Narit noted that the kingdom's strong digital infrastructure, clean energy resources and robust government support create an ideal environment for investments in data centers and advanced technology sectors, including wafer manufacturing.
According to the BOI, applications for projects in targeted industries accounted for 68 percent of the total investment value, led by the electrical and electronics sector, the digital sector, the automotive and parts sector, and the agriculture and food processing sector. - Bernama-Xinhua
