Economics
Thailand Sees Foreign Investment Boom as Trade War Escalates
- FDI applications surged 253% in first quarter, data shows
- Some gains in exports seen in second half; tourism is solid
Containers sit stacked near gantry cranes at the Port of Bangkok.
Photographer: Dario Pignatelli/Bloomberg
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Foreign investment into Thailand surged in the first quarter, further evidence that Southeast Asian nations are benefiting as businesses seek new locations in the region to avoid an escalating U.S.-China trade war.
Applications for foreign direct investment climbed to 84.1 billion baht ($2.7 billion) in the first quarter, up 253% from the same period last year, according to Pisit Puapan, executive director of the Ministry of Finance’s Macroeconomic Policy Bureau, citing official data from the nation’s Board of Investment.