Investment in Thailand continues to show a steady growth, particularly in the industrial and high-tech sectors. According to data from the Board of Investment (BOI), in 2024, investment promotion applications reached a total value of over 1.13 trillion baht, representing a 35% increase compared to the previous year—marking the highest value in the last 10 years. Additionally, the number of project applications exceeded 3,100, the highest since the BOI was established. This reflects strong investor confidence in Thailand’s industrial sectors and their readiness in various aspects, including infrastructure, industrial zones, power supply, and a fully integrated supply chain.

Overview of Foreign Investment Projects

Foreign investment performed well in 2024, with over 2,000 foreign projects applying for investment promotion—accounting for 65% of all investment promotion applications. The majority of these projects were in the machinery and automotive industries, including both electric vehicle (EV) and internal combustion engine (ICE) production and parts manufacturing, led by automotive companies from China, Japan, and Europe, followed by the investments in electrical appliances and electronics industry, and the metal and materials industry, respectively. The total foreign investment value exceeded 800 billion baht. Most of this investment was concentrated in the electrical appliances and electronics industry, followed by the digital sector, including data centers, cloud services, software development, and digital platforms.

The number of foreign investment projects continues to grow, with China leading in the number of submitted projects

Among all foreign projects applying for investment promotion in 2024, China accounted for the highest number, with 810 projects—representing 40% of all foreign investment projects. The top five countries/economic zones with the highest number of investment promotion applications were:

China – 810 projects, investment value of 174.6 billion baht

Singapore – 305 projects, investment value of 357.5 billion baht

Japan – 271 projects, investment value of 49.1 billion baht

Hong Kong – 177 projects, investment value of 82.2 billion baht

Taiwan – 126 projects, investment value of 49.9 billion baht

Although China had a lower total investment value (174.6 billion baht) compared to Singapore (357.5 billion baht), large portion of investment from Singapore came from large-scale projects by companies whose parent firms are based in China and the United States. These companies chose to use Singapore as their regional base for expansion, particularly in high-value sectors such as data centers and cloud services, which are critical to the development of the digital economy in Southeast Asia.

The Eastern region remains a major hub for foreign investment 

Thailand’s Eastern region continues to attract strong interest from foreign investors, with over 1,200 projects applying for investment support, followed by the Central Thailand region with 674 projects. This trend reflects economic growth stretching from Central to Eastern Thailand. The rising investment activity in these areas contributed to an influx of both foreigners and Thai workforce into the region for work, which increases the demand for housing and consequently pushing up real estate prices.

The Eastern region of Thailand has been continuously developed into the country’s key industrial hub, particularly in coastal provinces such as Chonburi, Rayong, and Chachoengsao, which form part of the Eastern Economic Corridor (EEC). This region plays a vital role in Thailand’s economy in terms of production, exports, and foreign investment. It is home to many major industrial estates, especially in sectors such as automotive, petrochemicals, electronics, and advanced technologies. The region is also supported by modern infrastructure, including Laem Chabang Deep Sea Port, U-Tapao International Airport, and highway networks connecting to other parts of the country. Furthermore, the government actively supports investment through tax incentives and various measures that facilitate business growth in the region.