{"id":30727,"date":"2024-10-21T05:37:00","date_gmt":"2024-10-21T05:37:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4535507_AE35507_0"},"modified":"2024-10-21T05:37:00","modified_gmt":"2024-10-21T05:37:00","slug":"thailand-jan-sept-investment-applications-soar-42-in-value-to-10-year-high-of-us21-7-billion-electronic-manufacturing-and-data-center-projects-top-rankings","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=30727","title":{"rendered":"Thailand Jan-Sept Investment Applications Soar 42% in Value to 10-Year High of US21.7 billion; Electronic Manufacturing and Data Center Projects Top Rankings"},"content":{"rendered":"<p><span class=\"legendSpanClass\"><span class=\"xn-location\">BANGKOK<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Oct. 21, 2024<\/span><\/span> \/PRNewswire\/ &#8212; The <span class=\"xn-location\">Thailand<\/span> Board of Investment (BOI) said today that applications for investment promotion in the first nine months of 2024 increased 42% on year in value to a combined <span class=\"xn-money\">722.5 billion baht<\/span> (ca. <span class=\"xn-money\">US$ 21.7 billion<\/span>), the highest level since 2015. Large projects in target sectors such as electrical appliances and electronics (E&amp;E), and digital, mostly data centers, led rankings due to a significant afflux of foreign direct investments (FDI).<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\" readability=\"12\">\n<p> <a href=\"https:\/\/mma.prnasia.com\/media2\/2535586\/3.html\" target=\"_blank\" rel=\"nofollow noopener\"> <img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2535586\/3.jpg?p=medium600\" title=\"Mr. Narit Therdsteerasukdi, Secretary General of the Thailand Board of Investment (BOI), announced that during the first nine months of 2024 investment applications increased 42% in value to 722.5 billion baht (approx. US$21.7 billion), the highest level since 2015.\" alt=\"Mr. Narit Therdsteerasukdi, Secretary General of the Thailand Board of Investment (BOI), announced that during the first nine months of 2024 investment applications increased 42% in value to 722.5 billion baht (approx. US$21.7 billion), the highest level since 2015.\"> <\/a> <br \/><span>Mr. Narit Therdsteerasukdi, Secretary General of the Thailand Board of Investment (BOI), announced that during the first nine months of 2024 investment applications increased 42% in value to 722.5 billion baht (approx. US$21.7 billion), the highest level since 2015.<\/span><\/p>\n<\/p><\/div>\n<p>The number of applications for investment promotion during January to September increased 46% to 2,195 projects, from 1,501 projects in the same period of 2023. The adjusted investment value of the projects applied in the first nine months of 2023 was <span class=\"xn-money\">509.4 billion baht<\/span>.<\/p>\n<p>&#8220;The investment applications in the first nine months clearly demonstrate the rising confidence of investors in key tech industries that <span class=\"xn-location\">Thailand<\/span> is the strategically located, safe and resilient place that&#8217;s best for their business,&#8221; said Mr. Narit Therdsteerasukdi, Secretary General of the BOI. &#8220;<span class=\"xn-location\">Thailand&#8217;s<\/span> robust digital infrastructure, clean energy resources, and strong government support are providing the right environment for data center and advanced technology investment, including wafer manufacturing.&#8221;<\/p>\n<p>FDI during the nine months increased 38% from the year earlier period to <span class=\"xn-money\">546.6 billion baht<\/span>.<\/p>\n<p>The applications for projects in targeted industries accounted for 68% of the total investment value, led by the E&amp;E sector with 291 projects worth a combined <span class=\"xn-money\">183.4 billion baht<\/span>, followed by the digital sector with 107 projects worth <span class=\"xn-money\">94.2 billion baht<\/span>, and the automotive and parts sector with 212 projects worth <span class=\"xn-money\">67.8 billion baht<\/span>. The agriculture and food processing sector saw 226 projects worth a combined value of <span class=\"xn-money\">53 billion baht<\/span>, while there were a total of 162 petrochemicals and chemicals projects with a combined value of <span class=\"xn-money\">34.3 billion baht<\/span>.<\/p>\n<p><span class=\"xn-location\">Singapore<\/span> was the top source of FDI with applications worth <span class=\"xn-money\">180.8 billion baht<\/span>, more than twice the 79.7 billion seen in the year earlier period, mostly due to large investments in E&amp;E and data centers by units of Chinese and American companies. <span class=\"xn-location\">China<\/span> ranked second with <span class=\"xn-money\">114.1 billion baht<\/span>, up 18% from <span class=\"xn-money\">96.5 billion baht<\/span> a year earlier, and was followed by applications from companies based in Hong Kong&nbsp;SAR (<span class=\"xn-money\">68.2 billion baht<\/span>), Taiwan&nbsp;region (<span class=\"xn-money\">44.6 billion baht<\/span>), and <span class=\"xn-location\">Japan<\/span> (<span class=\"xn-money\">35.5 billion baht<\/span>).<\/p>\n<p>E&amp;E applications so far this year have included the <span class=\"xn-money\">11.5 billion baht<\/span> investment by FT1 Corporation, a <span class=\"xn-location\">Thailand<\/span>&#8211;<span class=\"xn-location\">Hong Kong<\/span>&#8211;<span class=\"xn-location\">Singapore<\/span> wafer manufacturing joint venture between Hana Microelectronics and PTT Group that will start producing silicon carbide wafers as early as the first quarter of 2027. Several printed circuit board (PCB) applications were also filed this year, such as <span class=\"xn-location\">China<\/span>-based Multi-Fineline Electronics&#8217; project to invest <span class=\"xn-money\">13.9 billion baht<\/span> to manufacture multilayer PCBs and flexible PCBs in <span class=\"xn-location\">Thailand<\/span>.<\/p>\n<p>Electrical appliance project applications filed so far this year include <span class=\"xn-location\">China&#8217;s<\/span> Haier Appliance Manufacturing&#8217;s <span class=\"xn-money\">13.5 billion baht<\/span> investment in a new smart air conditioners manufacturing facility, and <span class=\"xn-location\">Taipei<\/span>-based Inventec Electronics&#8217; investment of <span class=\"xn-money\">11.8 billion baht<\/span> for the manufacturing of smart electrical appliances and smart electronic devices , including PCBA, notebooks, docking stations.<\/p>\n<p>As for the digital sector, most of the investment value came from applications to setup large data centers by units of large tech and cloud service companies such as Google (Alphabet) from the U.S., <span class=\"xn-location\">Australia&#8217;s<\/span> NextDC, and <span class=\"xn-location\">India&#8217;s<\/span> CtrlS Datacenters.<\/p>\n<p>Automotive sector applications include Continental AG group&#8217;s Continental Tyres (<span class=\"xn-location\">Thailand<\/span>) Co., Ltd. project to spend a total of <span class=\"xn-money\">13.4 billion baht<\/span> to expand its tire plant in Rayong Province and boost annual production by an additional 3 million high-performance radial tires, mostly for export, reaffirming <span class=\"xn-location\">Thailand&#8217;s<\/span> status as the World&#8217;s second largest tire production base, and <span class=\"xn-location\">Southeast Asia&#8217;s<\/span> automotive hub.<\/p>\n<p>For more information, please contact:<br \/><span class=\"xn-location\">Thailand<\/span> Board of Investment<br \/>Tel. +66 (0) 2553 8111<br \/>Website: <a href=\"https:\/\/www.boi.go.th\/\" target=\"_blank\" rel=\"nofollow noopener\">www.boi.go.th<\/a><br \/>YouTube: Think Asia, Invest Thailand<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BANGKOK, Oct. 21, 2024 \/PRNewswire\/ &#8212; The Thailand Board of Investment (BOI) said today that applications for investment promotion in the first nine months of 2024 increased 42% on year in value to a combined 722.5 billion baht (ca. US$ 21.7 billion), the highest level since 2015. Large projects in target sectors such as electrical [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":30728,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-30727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Thailand Jan-Sept Investment Applications Soar 42% in Value to 10-Year High of US21.7 billion; Electronic Manufacturing and Data Center Projects Top Rankings - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=30727\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thailand Jan-Sept Investment Applications Soar 42% in Value to 10-Year High of US21.7 billion; Electronic Manufacturing and Data Center Projects Top Rankings - My Blog\" \/>\n<meta property=\"og:description\" content=\"BANGKOK, Oct. 21, 2024 \/PRNewswire\/ &#8212; The Thailand Board of Investment (BOI) said today that applications for investment promotion in the first nine months of 2024 increased 42% on year in value to a combined 722.5 billion baht (ca. US$ 21.7 billion), the highest level since 2015. Large projects in target sectors such as electrical [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/transmediavictoria.net.au\/?p=30727\" \/>\n<meta property=\"og:site_name\" content=\"My Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-21T05:37:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnasia.com\/media2\/2535586\/3.jpg?p=medium600\" \/>\n<meta name=\"author\" content=\"admin_tony\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin_tony\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=30727#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=30727\"},\"author\":{\"name\":\"admin_tony\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/#\\\/schema\\\/person\\\/5b51d407d652c0aa802bea269ea5d7e7\"},\"headline\":\"Thailand Jan-Sept Investment Applications Soar 42% in Value to 10-Year High of US21.7 billion; 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