Foreign Investment Soars 74% During First 11 Months of 2022

[webfact]

 

by Natthaphon Sangpolsit

BANGKOK (NNT) - Foreign investment surged by 74% for the first 11 months of this year, reflecting confidence among international investors in the Thai economy.

 

According to Acting Government Spokesperson Anucha Burapachaisri, Prime Minister Gen Prayut Chan-o-cha received an overview report on foreign direct investment in Thailand over the first 11 months of 2022. The report stated that foreign investments totaled 112,466 million baht, a 74% increase over the same period in 2021, with over 5,000 new jobs generated as a result.

 

From January to November 2022, the Ministry of Commerce approved 530 requests by foreign investors to conduct business under the Foreign Business Act B.E. 2542, with Japan, Singapore and the United States topping foreign investor nations, respectively. Businesses that have been approved by the Ministry of Commerce are largely related to the Government’s policies on national infrastructure development, public sector investment promotion and S-Curve industries.

 

The spokesperson said the Prime Minister expressed his elation at the confidence shown by international investors in Thailand’s economic potential, while thanking relevant agencies for their efforts to put policies into action. He said the result was the Thai economy showing positive signs of rapid recovery.

 

The premier also emphasized the importance of continuing to promote foreign direct investment and ease of doing business. He added that timely investment policies and promoting Thailand as a regional hub will boost investor confidence, thereby ensuring continuous economic recovery as well as employment and revenue creation.

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG221224174932551

 

-- © Copyright NNT 2022-12-24

 

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[nigelforbes]

In mid year 2022, BOI announced (link below) they had received 784 applications for FDI projects valued at 219 billion Baht. Above, at 11 months, 530 projects valued at 112 million baht were approved. Presumably, the total number of application received during the full year was about double those in the first half, around 400 billion baht in value? Yet only 112 million baht in value was approved during the full year. I wonder what that story is all about? Perhaps somebody who has had their coffee can work this out and let us know.

 

Regardless, main applicants were from Taiwan at 30%, followed by Japan, China, the US and Singapore.

 

https://www.boi.go.th/index.php?page=press_releases_detail&topic_id=132718&language=en

 

 

 

Edited December 25, 2022 by nigelforbes

[Onerak]

No wonder baht is has remained strong against dollar after declining for a few months. 

[nigelforbes]

Coffee drunk, coin dropped. The story in the OP should  probably read 112,466 billions, not millions. 

Edited December 25, 2022 by nigelforbes

[MRToMRT]

Just 3 days ago we were told it was not meeting any targets because of taxation issues. 

[jacko45k]

4 hours ago, Onerak said:

No wonder baht is has remained strong against dollar after declining for a few months. 

I expect it will strengthen a bit more after the break.

[ikke1959]

NUmbers and numbers... but based on what?? we have to believe everthing is going so well in Thailand, while we read many times that investors did not choose Thailand for the complex ruling for visa and businesses...On the other hand how many were bankrupted after the investments??.. Everything has to look good with the elections coming... but what is real?? 

[smedly]

74% of what

 

$10 to $20 is 100% growth

[nigelforbes]

26 minutes ago, smedly said:

 

74% of what

 

$10 to $20 is 100% growth

The report stated that foreign investments totaled 112,466 billion baht, a 74% increase over the same period in 2021.

[rhodie]

11 minutes ago, nigelforbes said:

The report stated that foreign investments totaled 112,466 billion baht, a 74% increase over the same period in 2021.

"investments totaled 112,466 million baht"

The report says 112,466 million baht or 112 billion baht. 

[nigelforbes]

6 minutes ago, rhodie said:

"investments totaled 112,466 million baht"

The report says 112,466 million baht or 112 billion baht. 

Yep, it was far too early in the morning for me to work out, especially without coffee.

[Isaan sailor]

Rising Baht will put an end to, or at least crimp foreign investment, just saying…

[timendres]

8 hours ago, nigelforbes said:

Regardless, main applicants were from Taiwan at 30%, followed by Japan, China, the US and Singapore.

Taiwanese companies that can (e.g., TSMC) are diversifying location to hedge a possible invasion, and I would expect that Thailand will continue to be an attractive destination.

 

36 minutes ago, Isaan sailor said:

Rising Baht will put an end to, or at least crimp foreign investment, just saying…

On the flip side, once the investment is made, the company benefits from a stable currency. To wit, some US international companies are having their profits ravaged by exchange rates.

[Emdog]

2 hours ago, nigelforbes said:

The report stated that foreign investments totaled 112,466 billion baht, a 74% increase over the same period in 2021.

How does that compare to pre-Covid? I seem to recall businesses took a hit during the epidemic

[whereyougo]

Wow all the fan room desperadoe pensioner's suddenly got a diploma in economics ????

[nigelforbes]

1 hour ago, Isaan sailor said:

Rising Baht will put an end to, or at least crimp foreign investment, just saying…

400 billion Baht of investment requests were received, less than half were accepted, the rising baht doesn't seem to be stemming the flow of companies that want to buy in to Thailand, does it!

[nigelforbes]

21 minutes ago, Emdog said:

How does that compare to pre-Covid? I seem to recall businesses took a hit during the epidemic

https://tradingeconomics.com/thailand/foreign-direct-investment

[jacko45k]

21 minutes ago, whereyougo said:

Wow all the fan room desperadoe pensioner's suddenly got a diploma in economics ????

I also do Spanish and punctuation classes, you should too!

Edited December 26, 2022 by jacko45k

[PETERTHEEATER]

12 hours ago, nigelforbes said:

Perhaps somebody who has had their coffee can work this out and let us know.

I doubt it. But, the TAT chief staticician will be along shortly with his dependable calculator.