Deputy Minister of Commerce, Napintorn Srisanpang, confirmed the figure in a report on foreign business operations under the Foreign Business Act, B.E. 2542 (1999 CE), reports state news agency NNT.
During the period, the number of foreign investors increased to 493, marking a 13% rise from the previous year. This comprised 166 investors via business license channels and 327 via business certification channels, with a cumulative investment sum of B84 billion, and a 41% rise in jobs created, benefiting 5,703 Thais.
The predominant investing countries were Japan, with 111 investors at nearly B23 billion, followed by the United States, Singapore, China and Hong Kong.
Investments mainly funneled into sectors including petroleum exploration, electric train project management, medical equipment and supplies, onshore natural gas pipeline construction and design services for metal molds in automotive parts production.
Within the Eastern Economic Corridor (EEC) area, foreign investors contributed 20% to the total investor count, with an investment value of B16.14 billion, representing 19% of the overall investment.
It is projected that foreign investment will continue to rise in the final quarter and throughout 2023, potentially exceeding the government’s targets, thereby catalyzing a swifter recovery of the Thai economy, NNT concluded.