Thai investment applications hit 5-year high, led by Chinese money

FDI jumped 72% in 2023 as U.S.-China frictions persist

20240208N Great Wall Ora

Great Wall Motor is building electric vehicles in Thailand. (Photo by Kenya Akama)

KOSUKE INOUE, Nikkei staff writer

BANGKOK -- Applications to invest in Thailand climbed 43% to a five-year high of 848.3 billion baht ($24 billion) in 2023, driven by Chinese capital, the latest official data shows.

Foreign direct investment accounted for 663.2 billion baht of the total, up 72%. China was the top applicant by value at 159.3 billion baht.

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