Japan ranked No.1 foreign investors in Thailand during the first seven months of 2024.
Despite Japan’s economic challenges and slow recovery, Thailand remains a popular destination for Japanese business ventures. According to the Department of Business Development, during the first seven months of 2024 (January to July), there were 336 foreign investments in Thailand, totaling 90,987 million baht and creating 2,149 jobs for Thais. The top five foreign investors are as follows
- Japan : 117 investors, accounting for 25% of all foreign businesses in Thailand, with a total investment of 47,879 million baht. The investments span various sectors such as:
- Engineering services, particularly design services for the automotive industry
- Advertising services
- Contract services for product finishing, including cutting, drilling, turning, and threading
- Development of digital service platforms, such as e-commerce platforms and electronic payment systems
- Contract manufacturing services (airbag components, metal-formed parts, vehicle components)
- Singapore : 71 investors, accounting for 15% of all foreign businesses in Thailand, with an investment of 7,486 million baht. Key sectors include:
- Engineering and technical services, such as process design and machinery consultancy
- Advertising services via websites and applications
- Modern logistics and distribution center services
- Digital platform development services, including e-commerce website platforms
- Contract manufacturing (solar energy products, equipment for electric vehicles, motors for electrical appliances)
- United States of America : 70 investors, representing 15% of all foreign businesses, with a total investment of 3,470 million baht. Investment sectors include:
- Engineering consulting services for aircraft maintenance and repair
- Retail trade (electrical induction equipment, electrical converters, medical tools, chemicals, and pharmaceuticals)
- Advertising services
- Organizational development and business efficiency consulting
- Contract manufacturing (steering wheels, drum brake assemblies)
- China : 51 investors, or 11% of foreign businesses, with investments totaling 7,120 million baht in sectors such as:
- Services to affiliated companies (factory rental services)
- International trade, including purchasing raw materials and components for electronics and other industries for domestic resale
- Software development services for events management and online social networking applications
- Franchising services for food and beverage businesses
- Contract manufacturing (automotive parts, electronic products, high-capacity batteries, power tools, industrial machinery motors)
- Hong Kong : 35 investors, making up 8% of foreign businesses in Thailand, with a total investment of 12,131 million baht in areas like:
- Retail trade (injection molding machines, photosensitive films)
- Film production services, including coordinating international film projects shot in Thailand
- Modern logistics and distribution center services
- Contract manufacturing (metal products, components for electronics, and eyeglass production)
- Development of digital content for sale, such as games
Foreign Investment in EEC
Additionally, during the first seven months of 2024 (January – July), 137 foreign investors were interested in investing in the Eastern Economic Corridor (EEC), representing 30% of all foreign investors approved this year, an increase of 64 investors from the same period last year (up 88%). The total investment in the EEC area amounted to 27,677 million baht, or 30% of total foreign investment. These investors included:
- Japan: 45 investors with investments of 8,138 million baht
- China: 29 investors with investments of 3,039 million baht
- Hong Kong: 14 investors with investments of 5,058 million baht
- Other countries: 49 investors with investments of 11,442 million baht
Key investment sectors in the EEC included:
- Engineering services for various systems within industrial factories
- Contract services for product finishing (cutting, drilling, turning, threading)
- Warehousing services for goods, raw materials, temperature-controlled products, chemicals, hazardous substances
- Contract manufacturing (aircraft engine components, metal products, power tools, industrial machinery motors, and electronics for audiovisual groups)
- Software development services for sale, including production control systems and warehouse management systems
This overview highlights the ongoing interest of foreign investors, particularly from Japan, in the Thai market, focusing on sectors that align with Thailand’s strengths and economic policies.
Cr.https://www.dbd.go.th/news/17901092567
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