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Thailands Investment Situation in the First Six Months of 2020

20 August 2020 (Readers 499)

From January to June 2020, the total number of investment applications submitted to the Board of Investment (BOI) increased by 7 percent to 754 projects over that of the same period last year.

However, the investment value dropped by 17 percent to 158.9 billion baht because of the impact of COVID-19 and the smaller average size of projects.

According to BOI, 52 medical sector projects worth 13 billion baht filed investment promotion applications with BOI in the first six months of 2020. The projects represent a 174 percent rise in the number of projects and an 123 percent increase in investment value, compared to the same period last year.

BOI Secretary General Duangjai Asawachintachit said that the surge in medical investment projects was a result of the decision by BOI in April 2020 to offer investment promotion for the medical sector in response to the growing demand for medical products to cope with the COVID-19 situation.

As for the number of foreign direct investment (FDI) applications during the first six months, it rose by 5 percent year-on-year to 459 projects, with a total value of 75.9 billion baht.

Japan ranked first with 99 projects worth 22.6 billion baht, representing 30 percent of the total FDI value. China came second with 95 projects worth 17.5 billion baht, followed by Singapore with 55 projects worth 10.6 billion baht.

The five top industries seeking investment promotion during the period include the production of electrical appliances and electronics, 28.3 billion baht; agriculture and food processing, 15.3 billion baht; the manufacturing of automobiles and automotive parts, 13.5 billion baht; the medical industry, 13 billion baht, and the petrochemical industry, 4.4 billion baht.

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