Thailand’s foreign direct investment (FDI) in the first three quarters of this year amounted to 757 billion baht (23.6 billion USD) and is estimated to reach about 900 billion baht by the end of the year, lower than the previous forecast.

According a report released by t he Thai Board of Investment (BOI) on December 12, the country’s export turnover decline and the global economic downturn were attributed to main reasons that affect foreign investment activities in Thailand.

The factors had a negative impact on business expansion by the local private sector.

The BOI forecast that the total value of FDI to Thailand next year will reach 900 billion baht as it would be this year.

Services and public utility are industries with the highest investment value in 2013, followed by the steel, machinery engineering and transport equipment sectors. Japan remains in the largest group of foreign investors in Thailand.

According to the World Bank’s recent report on business in all countries around the world, Thailand ranks 18th in the world and 6th in Asia. Among ASEAN member countries, Thailand comes third, after Singapore and Malaysia.-VNA