The number of foreigners investing in Thailand increased in the first quarter as more countries reopened after the pandemic, while some were looking to relocate amid geopolitical risks.
The Board of Investment (BOI), foreign investment agency, stated that investment applications between January and March rose 77% from the same period of last year, reaching 186 billion baht, led by projects in the electronics, food and automobile sectors.
Foreign investment accounted for 155 billion baht of the total investment amount in the first quarter of 2023, up 115% from last year.
South Korea was the biggest investor during the period, pledging 31.4 billion baht in the quarter, followed by Singapore, China and Japan.
Investment application in 2022 rose 39% to 664.6 billion baht, according to the data from BOI.