The Board of Investment (BOI) says Japanese investment applications surged 146% in 2025 to more than 119 billion baht, signalling growing confidence in an economic rebound in early 2026. The sharp rise reflects stronger sentiment among Japanese firms operating in Thailand and reinforces the country’s position as a key production base in ASEAN.
The data were released on Monday, February 2, 2026, alongside the results of a JETRO Bangkok survey showing that Japanese companies expect Thailand’s economy to improve in the first half of 2026. This marks the first positive outlook after six consecutive survey periods of weaker sentiment.
The JETRO survey was conducted among more than 520 Japanese firms in Thailand between November and December 2025. Respondents attributed the improved outlook to a recovery in production and consumption, supported by new business opportunities across multiple sectors.
Industries expected to perform better include automotive, electronics, chemicals, food, trading, and financial services. According to the survey, 23% of firms plan to increase investment in Thailand this year, 35% expect exports to rise and 26% are considering establishing a regional office in the country.
On external risks, particularly US reciprocal tariffs, 44% of respondents said they have not been affected, while 26% said they have been, or expect to be, affected. Most firms, accounting for 54%, said they would maintain their current strategy, while others cited price adjustments, expansion into domestic or alternative markets and improved operational efficiency.
Regarding the temporary closure of Thai-Cambodian border checkpoints, more than 67% reported no significant impact. However, 25% said logistics and production were disrupted due to previous reliance on overland shipments, prompting shifts to sea freight or rerouting via Laos and Vietnam.
BOI secretary-general Narit Therdsteerasukdi said the survey results align with a strong increase in Japanese investment applications in 2025. A total of 311 projects were submitted, most investment concentrated in automotive and parts, electronics, and digital sectors.
Automotive and parts investment reached 28.332 billion baht, up 57%, driven by growth in hybrid electric vehicles. Electronics and electrical appliances rose 121% to 24.318 billion baht, while digital investment jumped from 42 million baht in 2024 to over 7.6 billion baht in 2025, largely due to data-centre projects such as Telehouse.
The Nation reported that Narit said Japanese investors remain confident despite global uncertainty, with more than 6,000 Japanese companies operating in Thailand. He added that investment is increasingly shifting towards advanced technologies, including semiconductors, PCBs, aircraft parts, biotech, data centres and renewable energy.
Key Takeaways
• Japanese investment applications in Thailand rose 146% in 2025 to more than 119 billion baht across 311 projects.
• A JETRO Bangkok survey shows improved business sentiment for the first half of 2026 after six weaker periods.
• Automotive, electronics, and digital sectors led investment growth, with rising focus on advanced technologies.
Adapted by ASEAN Now from Nation 2026-02-03
