Thailand's investment applications jump 94 pct in Q1-Xinhua

Thailand's investment applications jump 94 pct in Q1

Source: Xinhua

Editor: huaxia

2024-05-02 21:39:30

BANGKOK, May 2 (Xinhua) -- Thailand's overall investment applications jumped 94 percent from a year earlier in the first quarter of 2024, driven by projects in electronics, automotive and petrochemicals, official data showed on Thursday.

The Southeast Asian country received 724 investment applications in the first three months of this year, with a combined value of 228.20 billion baht (about 6.17 billion U.S. dollars), a 31-percent increase compared to the previous year, according to the Thai Board of Investment (BOI).

Foreign direct investment applications to the kingdom during the January-March period were recorded at 460 projects, worth a total of 169.32 billion baht (about 4.58 billion dollars), accounting for a rise of 16 percent year on year, the BOI said in a statement.

The significant growth in investment projects demonstrates the nation's readiness to build a future industrial base and showcases its ability to effectively respond to new investment trends that align with global trends, said BOI Secretary General Narit Therdsteerasukdi.