7 months of the year ’23 Foreigners invest in Thailand 58,950 million baht.

Nonthaburi, Aug 17- Secretary of the Foreign Business Committee reveals 7 months of '23, foreigners invested in Thailand 58,950 million baht, Japan invested first, 19,893 million baht, followed by Singapore 12,925 million baht and China 11,663 million baht employment. Thai people 3,594 people

Mr. Thosaphol Dhangsuputra, Director-General of the Department of Business Development and as Secretary of the Foreign Business Committee, revealed that “During the 7 months of 2023 (January-July), foreigners were allowed to invest in doing business in Thailand. Under the Foreign Business Act B.E. 2542, 377 cases were invested through obtaining a business license for foreigners, 122 cases and requesting for a certificate of business operation for foreigners, 255 cases. Total 58,950 million baht, employing 3,594 Thai people

The top 5 foreigners who invest in Japan are 84 people (22%) with an investment of 19,893 million baht, the United States 67 people (18%) with an investment of 3,044 million baht, Singapore 61 people (16%) with an investment of 12,925 million. baht, 28 Chinese (7%) with an investment of 11,663 million baht, and 16 in Germany (4%) with an investment of 1,298 million baht. Thailand, for example, knowledge on petroleum well pressure control Knowledge of basic techniques for grouting cement in petroleum drilling platform wells. Knowledge of underground station excavation procedures Knowledge of electrical and electronic design in electric train projects Knowledge about electricity generation from wind energy and knowledge of how to solve problems in the use of aircraft tires, etc.

However, when compared to the same period in 2022, it was found that 54 foreigners were allowed to invest in doing business in Thailand, representing 17% (January – July 2023, 377 allowed / month). Jan. - Jul. '22, 323 companies are allowed.) The investment value decreased by 14,674 million baht, or 20 percent (Jan. - Jul. '23, investing 58,950 million baht / month. Jan. - July 2022 invested 73,624 million baht) and hired an increase of 286 Thai people, representing 9 percent (Jan. - Jul. 23, employing 3,594 people / month Jan. - Jul. . 65 employing 3,308 people) with the highest number of investors still entering Japan as in 2022

For businesses that are permitted from January to July 2023, most are businesses that are in line with the country's infrastructure development. investment promotion policies to increase the country's competitiveness, such as petroleum well drilling services within the concession area of the exploration block in the Gulf of Thailand Onshore well maintenance services, design, procurement, procurement, installation, improvement, development, system trials, integration and commissioning services. as well as management for the electric train project Construction services including installation and commissioning of natural gas pipelines and natural gas control stations and facilities. For onshore natural gas pipeline system projects, design, supply, installation, inspection, testing and maintenance services. Medical tools and equipment and for use in hospitals SOFTWARE SERVICES ENTERPRISE SOFTWARE AND DIGITAL CONTENT SERVICES ARE INTERNATIONAL BUSINESS CENTERS

In addition, investment in the EEC area by foreign investors from January to July 2023, there were 73 foreign investors interested in investing in the EEC area, representing 19 percent of the total number of investors. The value of investment in the EEC area is 12,348 million baht, or 21% of the total investment. There are 31 investors from Japan investing 5,379 million baht * China 12 investing 893 million baht * South Korea 5 investors investing 287 million baht and 25 other countries investing 5,789 million baht. Advice on production process management in various industries. 2) Engineering and technical services such as design of machinery, tools and equipment. 3) Contract manufacturing services. and parts for industrial machinery 4) vehicle parts manufacturing services and 5) metal mold design services for automotive parts production

However, only in July 2023, 51 foreigners are allowed to do business in Thailand, investing through 20 foreign business licenses and 31 foreign business certificates. The total investment is 10,023 million baht, employing 372 Thai people, most of whom are from Japan, Singapore and the United States. There is a technology transfer that is a specific knowledge directly from the investing country to Thai people, such as knowledge about developing application programs for security and personal data management. Knowledge of website development techniques and Data Analysis for website development and data analysis in marketing. and knowledge about performance testing of automobiles and automotive parts for research and development, etc.

For businesses that foreigners are allowed to use include services to use the application system used for preventing call monitoring. Digital asset management software design and development services

Contract manufacturing services for machinery, equipment, spare parts, parts of machinery used in the rubber processing system. and general machinery, vehicle parts research and development services, software development services, online games and applications.-Thai News Agency

Source: Thai News Agency