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Thailand gets 100bn baht foreign investment for 2021 fiscal year


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BANGKOK (NNT) - Despite the new wave of COVID-19 being a major concern in Thailand, the country is still known to be attractive in the eyes of foreign investors. The foreign investment figure from October 2020 to March this year was valued over 100 billion baht, with the automotive industry being one of the star players.

 

The Industrial Estate Authority of Thailand (IEAT) has revealed the total foreign investment figure in the first six months of 2021 fiscal year, from October 2020 to March 2021, to be 106 billion baht, a significant 78 billion baht growth year on year.

 

The IEAT Governor Somjin Piluek, said today the jump in foreign investment value is a result of the start of new businesses at industrial estates within the past 1-2 years, which resulted in continual investment and expansion.

 

She said the figure reflects more demand from investors to expand their investment, especially in the automotive and transportation industries, steel and metal, rubber, plastics and synthetic leather, engines, machinery and parts, electrical appliances and electronics, as well as scientific instruments, which are also the sectors seeing the highest level of investment in Q1-2 this year.

 

Despite the increase in the foreign investment figure, there are now some 4,655 workers employed in industrial estates, which is 42% fewer year-on-year, as manufacturers are adopting more automated technology on their production lines.

 

From Q4 2020 to Q2 2021, only 75.68 hectares (473 rai) of land have been sold or rented, which is 66.13% below the year-on-year figure. Most of these land transactions are located in the Eastern Economic Corridor (EEC).

 

The IEAT governor said land demand by foreign investors still persist, despite travel restrictions imposed due to the pandemic, thanks to the infrastructure developed by the government, which helps attract new investments at industrial estates.

 

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-- © Copyright NNT 2021-04-19
 
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