Foreign investment in Thailand surges for January-July

Illustrative image (Photo: https://thainews.prd.go.th/)

Bangkok (NNT/VNA) - Thailand has seen a significant increase in foreign investment inflows for the first seven months of this year.

Data figures from the Ministry of Commerce indicated that the kingdom attracted 73.64 billion baht (about 2 billion USD) in foreign investment over the January-July period, 28.93 billion baht more than the same period of last year.

Acting Government Spokesperson Anucha Burapachaisri said this was boosted by the country’s investment promotion policies and reflects foreign investor confidence in Thailand’s development outlook.

He added that the top three sources of foreign investment inflows during the January-July period were Japan, Singapore and the United States.

Boosted by recovery in the tourism sector, Thailand’s economy expanded 2.4% year-on-year in the first half of 2022 and the Bank of Thailand (BOT) expects annual economic growth to reach 3.3% by year end./.

VNA