AKP Phnom Penh, January 17, 2025 —

Thailand reportedly achieved a major accomplishment in 2024, with investment promotion applications reaching 1.13 trillion baht, the highest in a decade. According to the Board of Investment (BOI), a total of 3,137 projects were approved, representing a 40% increase from 2023.

Key industries driving the growth included the digital sector, which attracted 243.3 billion baht in investments, primarily in data centers and cloud services. The electronics and electrical appliances sector followed with 231.7 billion baht, focusing on semiconductors and smart electronics. The automotive sector, including electric vehicles, secured 102.4 billion baht, while agriculture and food processing attracted 87.6 billion baht. The petrochemical and chemical sector accounted for 49 billion baht, targeting specialty chemicals and advanced materials.

Foreign direct investment (FDI) applications totaled 832.1 billion baht, a 25% increase from the previous year, with 2,050 projects approved. The top investors by value were Singapore, China, Hong Kong, Taiwan, and Japan. Investment activity was concentrated in Eastern and Central Thailand, which accounted for over 85% of the total value, while other regions, such as the Northeast, North, and South, also saw increased activity.

Approved projects are expected to create over 210,000 jobs and utilize over 1 trillion baht worth of local materials annually, contributing more than 2.6 trillion baht to Thailand’s annual export value. Investments in high-tech industries, including semiconductors, EVs, data centers, and biotechnology, have positioned Thailand as a competitive and reliable hub for global supply chains.

Thailand's strategic location, robust infrastructure, and strong international relations further enable the BOI to attract investments in advanced technology sectors while strengthening established industries such as agriculture, clean energy, and healthcare.

AKP-NNT