Foreign investment in Thailand surges 60% in first 9 months

Foreign investment in Thailand rallied 60% to 134 billion baht in value for the first nine months of this year, with Japan continuing to top the list of source countries, a government spokesman said on Sunday.   
Jirayu Houngsub, spokesman for the Prime Minister’s Office, said a total of 636 businesses were granted permission under the Foreign Business Act of 1999, up 29% year-on-year.
The investments created employment for 2,505 Thai workers. 
In terms of investment spending and applications, Japan continued to lead the pack at 74 billion baht for the period (157 applications), followed by Singapore at 12.2 billion (96), China 11.9 billion (89), the US 4.14 billion (86) and Hong Kong 4.11 billion (46). 
“Platform and software businesses are the key factors helping to attract foreign investors and support robust growth in the Thai economy. Investment value in these spaces amounted to 28.3 billion baht, accounting for 7.27% (of the overall foreign investment in the first nine months),” Mr Jirayu said.
“The top three investors in these businesses are Singapore, Taiwan and Malaysia, respectively.”