From January to May, some 274 international investors received authorization under the Foreign Business Act to establish their businesses in Thailand, according to Thosapone Dansuputra, the director-general of the Department of Business Development (DBD) within the ministry. This influx of foreign investment, totaling 45.39 billion baht, generated 2,999 new jobs in the economy.
The leading three countries contributing the most significant investments included Japan, with 63 projects valued at 15.87 billion baht. This was closely followed by the United States, with 48 projects generating 2.45 billion baht in investment, and Singapore, with 46 projects amounting to 6.35 billion baht.
The influx of foreign firms had a positive impact on the Thai economy, as it fostered knowledge and technology transfer, particularly in industries connected to government mega-projects and infrastructure initiatives. Among these critical sectors are oil well control, electrical system design for railway systems, and wind energy production.
Thosapone Dansuputra further revealed that of these newly established foreign companies, 48 set up operations in the Eastern Economic Corridor (EEC). This area attracted investments totaling 9.44 billion baht, which accounted for 21% of the entire foreign investment within the given period.
The majority of these companies in the EEC originate from Japan, China, and Hong Kong and primarily provide services such as production management consulting, technical assistance, and engineering services. These organizations have undoubtedly played a vital role in driving economic growth within the region and providing valuable employment opportunities for local communities.
In summary, the first part of the year has seen a substantial increase in foreign investment in Thailand. With the total number of international investors reaching 274 and generating investments of 45.39 billion baht, vital knowledge and technology transfer have been promoted. The majority of these investments were centered around the Eastern Economic Corridor, where companies from Japan, China, and Hong Kong have established businesses in cutting-edge industries such as technical and engineering services. The continued growth of foreign investment in Thailand bodes well for future economic development and job creation.
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