Thailand’s foreign direct investment skyrockets with focus on EV industry

[webfact]

 

Investment attraction to Thailand has seen a remarkable surge in the first half of this year. The nation registered a 70% year-on-year increase to an impressive 364 billion baht, according to the Board of Investment (BoI).

 

This boost, particularly contributed by an astonishing 141% soar in foreign direct investment, serves as a testament to Thailand’s status as a preferred manufacturing hub for international firms.

 

The investment escalation was marked by a rise in project applications totalling 891, marking an 18% rise compared to the equivalent period in 2022.

 

The majority of these applications, 464 to be precise, fall under the prioritized industrial categories which account for a cumulative value of 287 billion baht, making up 79% of the total value of applications. These industries majorly include electronics, food processing, and automotive sectors with a special focus on the electric vehicle (EV) supply chain. Narit Therdsteerasukdi, Secretary-General of the BoI, said…

“Investment applications in the first half show a positive trend and foreign investment in particular continued to increase at a very high rate, especially in electronics and EVs, which are among our priority sectors.

 

by Alex Morgan

Image by grafismedia from grafis media

 

Full story: https://thethaiger.com/news/business/thailands-foreign-direct-investment-skyrockets-with-focus-on-ev-industry

 

-- © Copyright Thaiger 2023-07-11

 

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[Cake Monster]

I wonder if all this FDI will offset the amount of outflows

[Venom]

How's all this going to impact the power grid, do they have the capacity? 

[Stargeezr]

I doubt that there is a single country in the world that

has the charging stations needed for EVs to be practical to own.

  Many countries do not have the capacity in their electrical grids 

either. On some hot days California pleads for EV owners not to charge during peak use hours.

  I have to wonder how many years it will take most countries to get their capacity up to

what they will need for all these new EVs?  More Nuke power stations are needed. IMO

[cowellandrew]