Approved foreign direct investment (FDI) rose 65% to 74 billion baht in the first seven months of the year, from the same period a year earlier, a government spokesman said on Friday, describing the trend as a sign of confidence in the economy.
The economy is still recovering from the impact of the coronavirus pandemic, but spokesman Anucha Burapachaisri said the investment trend should continue.
“Foreign investors are still investing in Thailand, showing their confidence in the country’s potential,” he said.
In the first seven months of 2022, Japan was the biggest foreign investor, followed by Singapore, the United States, and Hong Kong, he said.
Of the total investment, more than 30 billion baht was in the Eastern Economic Corridor (EEC) that covers three provinces east of Bangkok, he said.
The EEC is the centrepiece of government efforts to boost growth and encourage investment, particularly in high-tech industries. The government aims for $62 billion worth of investment from 2023 to 2027.
The economy is expected to grow by 2.7% to 3.2% this year, the National Economic and Social Development Council has forecast.