A total of 401 investment projects, worth 123.4 billion baht (USD 3.9 billion), have sought promotional privileges from the Thailand Board of Investment (BOI) during the first quarter of 2021, representing an increase of 14 percent in number and 80 percent in value, compared with the same period of last year.
According to BOI Secretary General Duangjai Asawachintachit, applications for investment in the target industries, all key sectors that are driving forces of Thailand’s economy, totaled 74.8 billion baht in combined value from January to March 2021.
The medical sector attracted the most investment, with a total of 29 projects worth 18.4 billion baht, over 100 times more than a year earlier, followed by electrical and electronics manufacturing, with 34 projects worth 17.4 billion baht.
Out of the 401 investment projects, 191 of them, representing a combined value of 62 billion baht, came from foreign direct investment (FDI). The three largest groups of foreign investors include South Korea, China, and Singapore, with similar levels of investment. Korean investment saw a rise in this quarter because of a large-scale joint venture in the medical sector.
Applications for the Eastern Economic Corridor, or EEC area, which comprises the provinces of Chon Buri, Rayong, and Chachoengsao, consisted of 117 projects, with a combined investment value of 64.4 billion baht. The value of these projects amounts to 39 percent more than that of same period of 2020.
Applications for investment promotion under the BOI measures to improve production efficiency also saw a sharp increase, with 39 projects with a combined investment value of 8.4 billion baht, almost six times the amount seen in the same period of 2020.
Out of the number of these projects, 21 aim to improve energy efficiency and reduce environmental impacts, with a total investment value of 5.6 billion baht; 16 involve the upgrading of machinery, with total investment of 2.5 billion baht; and two are research and development projects, with an investment of 300 million baht.
Source: The Government Public Relations Department