China tops Thailand’s FDI chart but ‘more investment going to Vietnam’

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China topped the chart of foreign direct investment (FDI) in Thai industrial estates last month, accounting for 23.68% of total FDI of 14.76 billion baht.

Singaporean investors were second (12.41%), followed by Japanese (11.65%), Indian (6.39%) and Taiwanese (6.02%), said the Industrial Estate Authority of Thailand (IEAT) on Sunday.

IEAT governor Veeris Ammarapala said the trend of Chinese businesses moving their manufacturing bases to Southeast Asia started last year, with Thailand and Vietnam the most popular choices for top-tier electronic manufacturers.

Another factor driving Chinese investment is agreements signed between the two countries at last year’s Apec Summit to promote joint investment under China’s Belt and Road Initiative and the Thailand 4.0 policy, Veeris said.

He added China also topped the chart for FDI in 2022 with 77.3 billion baht of the total 433 billion baht. Next came Japan with 50.7 billion baht, followed by the United States (50.3 billion baht), Taiwan (45.2 billion baht) and Singapore (44.2 billion baht).

“We expect to see more Chinese investors establish manufacturing bases in Thailand this year after China lifted travel restrictions for its people,” he said.

“The IEAT will work with related agencies to promote investment in target industries including electric vehicles, smart electronics, medical, bio and circular industries.”

Source: The Nation Thailand

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