Board of Investment Posts Rise in Value
The value of investment from January to March 2023 in Thailand increased by 77% compared to that in the same period of 2022 to 185.7 billion baht which resulted from 397 project proposals between January and March 2023 with South Korea being the top foreign country among the other top foreign investors in terms of value in the first quarter of 2023. Moreover, foreign investment accounted for 155.2 billion. To elaborate, there was a year-on-year increase by 115%. A spokesman of the Office of the BOI stated that the increase in value of the investment was due to the fact that the covid 19 situation eased. Moreover, many countries that are located overseas decided to relocate their production facilities to Thailand to reduce the risk of geopolitical problems. Investment in electronics continued to spike as there were attractive investment incentives granted by the BOI under its 5 years strategy plan. Apart from the increase in the electronic field. The strategy last for a period of 4 years from 2023 to 2027. In addition, the BOI also supports other investments which are believed to lead to a new economy and increase competitiveness. In addition, the most attractive location is the Eastern Economic Corridor or the EEC which stipulates a growth of 84% in 2022 to 101 million baht in terms of investment from 128 projects.
Legal Insight Vol. June 2023 of Bangkok Global Law
The PDF file can be dowloaded via the link as set below.
Board of Investment Posts Rise in Value_Bangkok Global Law