Foreign direct investment in the first half of the year fell by 32%, or 81 billion baht from the same period last year, said the Bank of Thailand.
Foreign investment, in the form of equity investment and joint ventures with Thai companies in the manufacturing sector, totalled 170 billion baht in the first six months of the year, or 32% below the same period in 2006.
The central bank said the lower investment figures reflected shaky investor confidence and policy uncertainties under the military-appointed government.
Investment in the second half of the year is expected to remain weak, but investment should pick up in 2008 following general elections at the end of the year.
Japan remained the largest foreign investor in the first half, with inflows of 54.78 billion baht, or 33% of total foreign inflows. Ranked second was Singapore, at 25.16 billion baht worth of investment in the first half of the year, or 15% of the total, followed by the United States at 21.6 billion, or 13% of total investment.
Investments from 15 countries in Europe in the first half totalled 14.3 billion baht, or 9% of total foreign investment in the period. The central bank said 49% of total investment in the first half was in the industrial sector, followed by the property sector at 14%.
Foreign investment, both in terms of direct investment and lending, has risen sharply for the property sector in recent years. In 2001, foreign investment in property totalled just 1% of total investment.
The retail sector attracted 11% of total investment flows in the first half, followed by portfolio stock investments and investments in other sectors.
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