Thailand has seen a remarkable surge in investment, attracting a total value of 723 billion baht (approximately $21.8 billion) in the first nine months of 2024, marking the highest level of investment in a decade.

During this period, 2,072 investment certificates were issued, indicating a strong commitment to actual investment, with an investment value of 672.2 billion baht, a 101% rise from the previous year.

The Board of Investment (BOI) attributes this growth to Thailand's robust digital infrastructure, clean energy resources, and supportive government policies.

Singapore emerged as the largest source of foreign direct investment (FDI), accounting for applications worth 180.8 billion baht, followed by China with 114.1 billion baht.

The number of investment promotion applications also rose sharply, with 2,195 projects submitted, reflecting a 46% increase from 1,501 projects in the previous year.

Key sectors driving this investment growth include electronics and electrical appliances, which led with 291 projects valued at 183.4 billion baht.

Together, Singapore and China were the top two countries of origin for foreign investment in Thailand during this period.

Significant projects include an 11.5 billion baht investment by FT1 Corporation for silicon carbide wafer production and major investments in smart appliances by Haier and Inventec Electronics.

This represents a significant 42% increase compared to the same period last year, when the investment value was 509.4 billion baht.

Mr. Narit Therdsteerasukdi, the BOI Secretary General, emphasized that the increase reflects growing investor confidence in Thailand's technology sectors.

These investments are expected to create over 170,000 new jobs and significantly boost Thailand's economy by utilizing domestic raw materials and increasing exports.

Other notable sectors include agriculture and food processing, with 226 projects valued at 53 billion baht, and petrochemicals and chemicals, which saw 162 projects worth 34.3 billion baht.