Duangjai Asawachintachit, BoI's secretary-general (Photo: bangkokpost.com) Bangkok (VNA) - Chineseinvestment applications in Thailand surpassed those made by Japanese companiesfor the first time in 2019, standing at 262 billion baht (8.66 billion USD), theBoard of Investment (BoI) has announced.
According to the BoI, Japaneseinvestment applications were worth 73.1 billion baht, whileHong Kong investors were in third place with a value of 36.3 billion baht.
The BoI’s Secretary-General DuangjaiAsawachintachit said Chinese investors applied for the government's investmentincentives to avoid the continued US-China trade war.
Chinese companies have to seekcountries to move their production facilities, with Southeast Asia and Thailandin particular favoured, she said.
Of the total investmentapplications from China, roughly 160 billion baht were for projects in 12 targetedindustries and general sectors, while 101 billion was for the high-speedrailway linking three airports.
The BoI reported totalinvestment applications in 2019 stood at 756 billion baht from 1,624 projects.
This value is 16.2 percent lowerthan 2018 applications, which were worth 902 billion baht./.
VNA
