Overall investment applications in Thailand last year rose 43% to a five-year high of 848 billion baht, with China the biggest foreign investor, the Board of Investment (BoI) said on Tuesday.
Foreign investment pledges alone jumped 72% year-on-year to 663 billion baht, the BoI said.
Chinese investment applications worth 159.4 billion baht accounted for nearly a quarter of the total value of BoI-approved foreign projects and were mainly in the electronics, automotive and electric vehicle sectors, it said.
After China, the largest investors were Singapore, the United States and Japan.
The BoI exceeded its target to attract 600 billion baht worth of promoted investment last year, BOT Secretary General Narit Therdsteerasukdi told reporters.
It aims to receive 3 trillion baht worth of investment applications over a five-year period starting from 2023.
This year is still a good one for investment, he added.