Thailand: investment pledges up, bad debts down in Q1
The Thailand Board of Investment (BOI) announced on May 22 that the number of applications for investment during the first quarter of this year surged by 77% annually to 185.7 billion THB (5.4 billion USD), led by electronics, food and automobiles.
Bangkok (VNA) – The Thailand Board of Investment (BOI) announced on May 22 that the number of applications for investment during the first quarter of this year surged by 77% annually to 185.7 billion THB (5.4 billion USD), led by electronics, food and automobiles.
Ina statement, the BOI said higher investment inflows are supported by the reopening of major investorcountries and the trend of companies relocating their production bases toSoutheast Asian countries, including Thailand, to mitigate geopolitical risks.
In the first quarter of this year, foreign investment commitments reached a totalvalue of 155 billion THB, marking a 10% increase year-on-year.
The Republic of Korea was the largest investor in Thailand with a combined worth of 31.4 billion THB, followed by Singapore with 29.7 billion THB, China 25 billion THB and Japan 24.8 billion THB.
Last year, investment applications in Thailand reached 664.6 billion THB, up 39% from 2021.
The same day, the Bank of Thailand (BoT) announced that thenon-performing loan ratio of Thai banks stood at 2.68% as of the end ofMarch, down from 2.73% in the end of 2022, thanks to debtrestructuring efforts.
The BoT also said the Thai banking system continues to maintain strong resilience withadequate capital levels, risk proviꦫsions for lending, and high liquidity./.
Thai Oil Plc (TOP), Thailand’s the largest oil refining company by capacity, is looking forward to pouring its investment in Vietnam, Indonesia and India, in the fields of oil refinery, lube oil and high-value petrochemical products.
Thailand’s Ministry of Commerce is positive about the country’s foreign investment attraction this year, with at least 100 billion baht (over 2.8 billion USD) expected.
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Illustrative image (Photo: Internet) 
