Thailand’s overall investment pledges jump 140%

Thailand’s overall investment applications from January to September jumped 140 per cent from a year earlier to 521 billion baht ($15.38 billion), already exceeding those of the whole of last year, the country’s investment agency said on Monday.

The combined foreign direct investment (FDI) project pledges more than tripled to 372 billion baht in the first nine months of this year, from

116.4 billion baht a year earlier, the Board of Investment (BOI) said in a statement.

Japan, the United States and China remained the top three source countries of FDI applications, it said.

“Despite the impact of the Covid-19 pandemic and related travel restrictions, investors show sustained confidence in Thailand and in our key target sectors,” said BOI head Duangjai Asawachintachit.

Increased pledges by the electrical and electronics, medical and chemical sectors, were a good sign that the economy had started to recover, she said.