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Japan to Maintain Top Position in Foreign Direct Investment in 2022 on an Approved Basis(Thailand)

February 07, 2023

The Board of Investment of Thailand (BOI) released foreign direct investment statistics for Thailand for 2022 on January 26. On an application basis, the amount of investment increased 36.3% over the previous year to approximately 434 billion baht (approximately 1,692.6 billion yen; 1 baht = approximately 3.9 yen), and the number of investments increased 42.1% to 1,070 (see attachment Table 1).

Looking at applications by country/region, China topped the list with approximately 77.4 billion baht, about 2.1 times the amount of the previous year, accounting for 17.8% of the total share. Japan was in second place with a 36.6% decrease to approximately 50.8 billion baht and an 11.7% share. The U.S. was third with a 72.5% increase to approximately 50.3 billion baht and an 11.6% share. Taiwan was in fourth place with a 2.1-fold increase to approximately 45.2 billion baht and a 10.4% share. Singapore was fifth with a 49.5% increase to approximately 44.3 billion baht and a 10.2% share.

On an approved basis, the value of investments increased 14.2% over the previous year to approximately THB 320.4 billion, while the number of investments increased 4.0% to 802 (see Table 2 in the attached document). Looking at investment by country/region, Japan, which had large projects in advanced or nano-materials manufacturing and hard disk drive manufacturing, topped the list with approximately 50 billion baht and a 15.6% share. Taiwan was in second place with about 45.5 billion baht, or 14.2% share, 2.5 times the market share of Japan. China was in third place with approximately 41.7 billion baht and a 13.0% share.

Looking at investment in the 12 sectors targeted by the Thai government's "Thailand 4.0" initiative, which aims to advance industry, investment in automobiles and parts (approximately 4.4 times or 105.4 billion baht) and automated systems and robots (approximately 4.1 times or 1.8 billion baht) grew significantly on an application basis, including Thai capital. Digital (approximately 3.7 times or 49.5 billion baht) also increased significantly.

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