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Thailand expects 100 Billion Thai Baht foreign Investment

According to the department’s director-general, Thosapone Dansuputra, 52 foreign firms invested a total of 5.12 billion baht in Thailand last month under the Foreign Business Act.

Of the 52, 22 foreign businesses had requested business licenses and 30 had requested certificates of foreign business activity. 298 Thais were also employed by these businesses.

14 investors totaled from Japan (3.58 billion baht), followed by six from Singapore (410 million baht), five from the UK (98 million baht), three from China, and 14 from the US (9 million baht) (548 million baht).

According to Thosapone, international companies have taught Thais how to use technology, including 3D modeling, electrical and electronic design for electric train projects, and internet protocol television operations.

The majority of foreign companies operating in January complied with the nation’s policy to support infrastructure development and investment in order to increase competitiveness.

These included investments in oil drilling in the Gulf of Thailand, electric train projects, engineering and technical services, and contemporary distribution center services.

According to Thosapone, 683 million baht had been invested in the Eastern Economic Corridor (EEC), which eight foreign companies made up 15% of all investments made by foreign enterprises in January.

He stated that 632 million baht was invested by five Japanese companies, followed by 48 million baht from two Chinese companies and 3 million baht from a UK company.

He continued by saying that these businesses had made investments in contract manufacture of metal and plastic parts as well as automotive engineering business consultancy services.

Thosapone predicted that this year, thanks to the country’s openness, market expansion, and backing from both the public and private sectors in the Eastern Economic Corridor, Thailand’s foreign investors will bring in at least 100 billion baht.

Electric vehicles, agribusiness, bio-food, tourism, health, and digital industries are among those with a tendency to expand in Thailand, he noted.

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