23 January 2023
In 9M2022, Japan remained Thailand’s largest source of FDI with THB 44.5 billion. During the nine-month period, Japan heavily invested in the electric and electronic sector (34% of the total investment) and the service sector (22%). Thailand is considered an attractive investment destination for Japan due to continuous investment and trade policies, prominent Thai industrial clusters within the ASEAN region, procurement by local supply chains, as well as advantageous infrastructure nationwide. For 9M2022, the total number of Japan’s FDI projects in Thailand stood at 162. In particular, Japan’s average FDI to Thailand per project is THB 274.4 million.
Japan and Thailand cooperated and concurred on developing “The Five-Year Joint Action Plan on Japan - Thailand Strategic Economic Partnership” in August 2021. Both countries thereby agreed to formulate the action plan as a mid-term guideline to set directions for their economic relationship during 2022–26. In addition, The Board of Investment of Thailand also announced a new 5-year Investment Promotion Strategy for the period 2023–27 with an aim to restructure the Thai economy towards a "New Economy" that increases the country's competitiveness in the long run.
Japan has continued to invest heavily in major Thai industries. On the startup side, Japan has also invested in various Thai startups such as the recent Thai unicorn, LINE MAN Wongnai, a specialised e-commerce platform, and an educational platform.
Case Studies of Japanese FDI Projects in Thailand
THB 20 Billion Investment from Mitsubishi Motors into Thai Automobile Industry
Mitsubishi Electric to Upgrade Thai Industrial Sector towards E-Factory
Mitsubishi Estate Enters Real Estate Industry in Thailand
NTT (Thailand) Invests THB 500 Million to Further Strengthen its Data Centre
Nippon Steel Acquires Two Thai Steel Makers to Increase Capacity and Cut Footprint
Joint Venture, SCG + Siam Kubota, to Establish KasetInno to Provide Smart Farming
Startup Profiles with Japanese Investments
LINE MAN Wongnai
Mercula
Globish
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