China investments in Thailand on the upswing as trade war drags on

Thailand offers safety and resiliency to foreign investors, says Board of Investment chief

PETER JANSSEN

Published Mon, Aug 7, 2023 · 05:00 AM

[BANGKOK] Chinese foreign direct investment (FDI) has been on the rise in Thailand since the start of the US-China trade war five years ago, and this trend looks set to continue as the kingdom becomes a key manufacturing hub for electric vehicles and electronic parts.

Between 2018 and 2022, Chinese project applications at Thailand’s Board of Investment (BOI) amounted to 450.1 billion baht (S$17.4 billion). This was much higher than the 320.4 billion baht in applications from Japan, 122.3 billion baht from Singapore and 107 billion baht from the US.

The BOI is a government agency under the Prime Minister’s Office and its mandate is to promote direct investment in Thailand by coming up with investment policies.