According to Thai media, The director general of the Industrial Park Authority of Thailand (IEAT), Wei Li, recently introduced the investment in Industrial parks in Thailand for the nine months of fiscal year 2021 (October 2020 to June 2021). Due to the impact of the epidemic, foreign investors delayed their investment in Thailand. The land transaction area of Thailand's industrial parks was 927.09 lai (1,483,344 square meters), a 49.59 percent decrease compared to the same period last year. On the other hand, the original customer base of the park expanded the technical investment in the reproduction process. The total investment in the above period was about 130.29 billion baht, an increase of 138.27% compared with the same period last year. According to the data, China topped the list of foreign direct investment in Thailand's industrial parks, accounting for 15.15%. Followed by Japan with 12.12%; Singapore, South Korea and the United States followed. Thailand industrial Park has been recognized by many Chinese, European and American enterprises, and is also an alternative location for many Indian investors.
Wang Peng, a researcher at the Chongyang Institute for Financial Studies of Renmin University of China, said that there are a large number of multinational enterprises in Industrial parks in Thailand, and the COVID-19 epidemic has made many of them realize the importance of diversifying their production locations. The country has more than 60 industrial parks that can enjoy the encouragement and preferential policies of the Thai Investment Promotion Board (BOI), so investors can get a lot of benefits, so the original multinational companies are planning to further expand their investment in the industrial parks in Thailand. In addition, while the COVID-19 outbreak has shifted the focus of trade frictions between China and the United States, many Chinese companies have realized the need to relocate their industries to other countries to avoid the impact of future trade frictions. Thailand's proximity to China, plus "10+1", "10+3", RCEP and China-asean Free Trade Area have all laid a good foundation for China's investment in Thailand, so Chinese enterprises have maintained a high investment in Thailand's industrial parks.
However, the third wave of COVID-19 outbreak in Thailand is very severe. Although the head of the Thai Ministry of Health also predicted that the epidemic could be controlled within one month, Wang Peng believes that the COVID-19 epidemic will still have a great impact on the business attraction of Industrial parks in Thailand, and good epidemic prevention measures are the key to the normal business attraction in the second half of the year.
It is known that the Thai government has stepped up the procurement of vaccines, and many industrial parks have also enhanced protective measures, such as the Loganar Industrial Park, where foreign investors who have been vaccinated are still subject to a mandatory 14-day quarantine. Judging from the progress of the epidemic prevention measures, many foreign investors have been actively cooperating and investing in Thailand despite the risk of the epidemic.