Bangkok: Ekniti Nitithanpraphas, Deputy Prime Minister and Minister of Finance, has confirmed that Australian investment in Thailand has reached an impressive 33 billion baht. Ekniti emphasized the confidence that Australian investors have in Thailand, noting the country's efforts to attract technology, rare earth resources, and advanced industries to strengthen its position in the global supply chain.
According to Thai News Agency, the recent visit of the Prime Minister to Australia underscored the ongoing confidence and interest of Australian businesses in Thailand. This is particularly evident in sectors such as technology, advanced manufacturing, food, renewable energy, and future industries, which are expected to play a crucial role in enhancing the resilience of the Thai economy amid global uncertainties.
During the visit, the Prime Minister chaired the 'Thailand-Australia Investment and Business Partnership Reception' in Sydney, attended by more than 70 Australian business executives. The diverse industries represented included advanced manufacturing, agriculture and food, digital technology, education, health and medical, mining, renewable energy, and services. This participation highlights the wide-ranging interest of Australian investors in various sectors of the Thai economy.
Between 2021 and June 2026, 93 investment projects from Australia have applied for investment promotion from the Board of Investment (BOI), totaling 33,425 million baht. The digital industry leads with an investment value of 13,833 million baht, followed by chemicals and agriculture and food processing.
Ekniti emphasized that the focus is not solely on investment figures but on the quality and technology that these investments bring, creating added value for the Thai economy. Notable examples include ANCA Group, a CNC machine manufacturer that employs 440 people in Thailand, and ARB Corporation, which uses Thailand as a production base for 4x4 vehicle parts.
Hastings Technology Metals has strategically chosen Thailand for its first upstream rare earth processing base, reflecting the critical role of rare earth minerals in high-performance magnet production for electric vehicles. This investment positions Thailand as a key player in the global supply chain of strategic industries.
Additionally, Ridley Corporation has invested in bio-pesticide production in Chanthaburi province, while Callington Group has maintained a long-standing investment in Thailand, evidencing the enduring confidence Australian businesses have in the country.
In response to evolving global supply chains and geopolitical challenges, Ekniti stressed the importance of building a diverse network of economic partners to avoid dependence on any single market. Thailand and Australia have complementary economic structures, with Thailand excelling in food production and processing and Australia in high-quality agricultural products, renewable energy, and advanced manufacturing.
Ekniti pointed out that the ultimate goal is not just to attract investment but to foster high-skilled employment, technology transfer, and integration into future industry supply chains. This mission reflects the work of economic diplomacy, with a focus on generating tangible benefits for the Thai people and economy.
In a separate development, Ekniti addressed measures to tax gold as a means to curb illicit capital. The Ministry of Finance, with insights from the Data Bureau committee, seeks to combat fraud through taxation. The approach focuses on tracking transaction records to prevent fund concealment, with discussions with the Thai Bankers Association set to take place soon. The aim is to ensure effective reporting and transaction tracking to prevent the accumulation of illicit capital in gold and other digital assets.