The total amount of foreign investment has risen 106% in Thailand as a number of new changes have been implemented to make foreign investment less complicated in the country.
The statistics, released by the National News Bureau of Thailand, found that despite the massive increase in total foreign investment, the number of foreign businesses given the green light to operate in the Kingdom has dipped 23% from 2018.
Most of the foreign investment increases came from incentivizes for foreign companies to extract natural resources and invest in several metro and transportation projects.
In 2019, Thailand’s Board of Investment (BOI) approved over one thousand foreign investment projects worth more than 300 billion baht.
Tweaks to the foreign investment application process and regulations are largely responsible for the increase.
Fees can now be paid and processed online which greatly reduces the time spent trying to secure a foreign investment license in Thailand.
Companies who have received a Thailand BOI Promotion now only need to apply for a foreign business certification within 30 days. They no longer require a business operations permit.
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