Singapore-based Chinese, U.S. firms drive Thailand's $33bn FDI bounty

Highest investment in a decade led by data centers, autos and chips supply chain

A Tesla self-driving chip exhibited at the Thailand International Motor Expo in Bangkok in November. The digital and electronics sectors attracted 475 billion baht ($13.6 billion) in investments to Thailand last year. © Reuters

FRANCESCA REGALADO, Nikkei staff writer

January 13, 2025 19:51 JST

BANGKOK -- Singapore ousted China as Thailand's top source of foreign direct investment in 2024 as Chinese and American companies increasingly used their bases in the city-state to initiate projects, particularly new data centers and electronics factories.

The digital and electronics sectors attracted a combined 475 billion baht ($13.6 billion) last year, including pledges from global tech giants like Google to set up data centers in Thailand, the Thai Board of Investment announced on Monday.