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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

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    • Thailand has been treading gingerly in the ongoing US-China spat, which has helped attract Chinese companies to South-east Asia’s second-largest economy.
    • Thailand has been treading gingerly in the ongoing US-China spat, which has helped attract Chinese companies to South-east Asia’s second-largest economy. PHOTO: AFP

    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.

    AseanAsean BusinessThailandElectric vehiclesForeign investmentSouth-east AsiaSpotlight

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