BUSINESS 2019 Thailand FDI applications double year-on-year

BUSINESS

2019 Thailand FDI applications double year-on-year

By Sun Guangyong | People's Daily app

01:02, August 16, 2019

BOI.jpg

Duangjai Asawachintachit, secretary general of the Thailand Board of Investment, speaks during an exclusive interview with China.org.cn on April 25, 2019 in Beijing, China.  (Photo: China.org)

BANGKOK (People’s Daily) - Thailand’s Board of Investment (BOI) received applications from foreign investors valued at $4.8 billion for the first half of 2019, more than double from this time last year, according to BOI data.

 Among the 468 active projects, Japanese companies, which usually make up the most significant FDI source, submitted 114 applications on projects worth almost $1.4 billion, followed by China, with 81 projects worth roughly $800 million, and Switzerland, with 10 projects worth $375 million.

“These numbers show investors’ continued confidence in Thailand,” said BOI Secretary-General Duangjai Asawachintachit.

“The projects submitted for investment in the target industries, such as data center business, advanced software development, R&D, and innovation incubation centers, are especially encouraging because these sectors are among key targets of our investment promotion policy.

Moody's Investors Service and Fitch Ratings have raised their Thailand outlook. Moody's changed the outlook on issuer ratings from stable to positive.

The move was a result of the country’s large and diverse economy, investment in physical and human capital, and long track record of transparent and predictable fiscal and monetary policies, along with strong public and external finances.

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