Applications to invest in Thailand's medical industry surge amid COVID-19 pandemic

August 14, 2020

Thailand's Board of Investment (BOI) on Thursday revealed that applications from foreign investors to invest in the country's medical industry have reached 52 projects, worth a total 13.070 billion baht (421 million U.S. dollars), surging 123 percent year on year.

The sharp rise follows the BOI's introduction of new measures in April to promote more investment in the field, aimed at meeting rising demand on medical equipment suppliers amid the COVID-19 outbreak.

"Support will also be given for the modification or transformation of existing production lines to boost availability of medical supplies," said Duangjai Asawachintachit, secretary-general of the BOI.

Duangjai said that from the total applications in the first six months, 225 are projects planned in the Eastern Economic Corridor (EEC) worth a total 85.480 billion baht (2.75 billion U.S. dollars).