Fintech PR
Thailand BOI Says 2023 Investment Applications up 43% to USD 24 Billion as Large FDI Projects Soar
BANGKOK, Feb. 6, 2024 /PRNewswire/ — The Thailand Board of Investment (BOI) announced today that applications for investment promotion in 2023 reached a five-year high of 848.3 billion baht in combined value (ca. USD 24 billion), an increase of 43% from the previous year’s adjusted number, led by large foreign investments in the five priority sectors in the BOI’s new Investment Promotion Strategy, which represented more than half of the combined pledges.
The relocation trend in key industrial sectors driven by ongoing geopolitical issues and the Thai Government’s aggressive investment promotion policy accelerated a huge growth of Thailand’s FDI to 663.2 billion baht, representing a 72% increase in the FDI value compared to 2022.
“Thailand’s potential and readiness, together with the new 5-year investment promotion strategy and measures, have attracted large investment by companies seeking to relocate to a safe and resilient long-term base for their investments. Moreover, the fact that the Prime Minister Srettha Thavisin, himself, led several investment promotion roadshows, has significantly raised investors’ confidence and put Thailand on the radars of key investment communities.” Mr. Narit Therdsteerasukdi, Secretary General of the BOI, told reporters at a press conference held after a Board meeting at Government House in Bangkok. “Looking forward to 2024, it is predicted that the Thai economy will expand, supported by the expansion of exports and tourism revenue. We also believe investments are likely to grow due to the continued flow of FDI, especially in our priority sectors.”
The Board meeting, chaired by H.E. Mr. Parnpree Bahiddha-Nukara, Deputy Prime Minister and Chairman of the BOI, also approved four investment promotion applications worth a combined 29.7 billion baht for projects comprising two data centers, the production of steel wire for the tyre industry, and the production of steam for industrial use.
2023 Investment Pledges up 43%
The total number of applications for investment promotion filed last year by investors, both local and foreign, increased 16% to 2,307 projects, worth a combined 848.3 billion baht investment, up 43% from a revised 591.5 billion baht in 2022. The rise in total value reflects the growing number of large projects, mostly from overseas.
The five priority sectors defined by the new strategy the BOI enacted last year, namely BCG (Bio-Circular-Green), electric vehicles (EV), smart electronics, digital and creative, together attracted 759 applications, worth a combined 492.5 billion baht of investment, or 58% of the total value of investment pledges.
FDI Applications
The year 2023 saw foreign investors file a total of 1,394 applications for investment promotion, an increase of 38% from the previous year, and an increase of 72% in combined investment value to 663.24 million baht, due to a significant number of large projects.
Like in the previous year, investment applications from the People’s Republic of China came first in the ranking of FDI sources by investment value, with 430 projects worth a combined investment of 159.39 billion baht, or 24% of the total value of FDI applications in the period, boosted by Chinese investments in the electronics industry, and the automotive supply chain, including EV.
Singapore came in second with 194 projects worth a combined 123.39 billion baht of investment, boosted by large projects applications from Singapore-based affiliates of international companies in sectors including solar cells and electronics.
Investments from the U.S. ranked third with 40 projects worth a combined 83.95 billion baht.
Japan came in fourth with 264 projects representing a combined value of 79.15 billion baht, a 60% increase from the previous year.
Taiwan ranked in fifth position with 54.6 billion baht from a total of 94 projects.
In terms of the regional distribution of investment, the Eastern Economic Corridor (EEC), Thailand’s prime industrial area comprising Chonburi, Rayong, and Chachoengsao provinces, again led the ranking with 460.5 billion baht worth of investment, accounting for 54% of the total pledges. It was followed by the country’s central region which attracted around 262 billion baht worth of investment, or 31% of the total.
Project Approvals
The investment applications approved by the board include the following projects:
- NextDC, a leading Australian data center operator, received approval for a 13.76 billion baht investment in a new hyperscale data center which will be located in Bangkok.
- CtrlS Datacentres (Thailand) Co., Ltd., a unit of CtrlS Datacenters LTD, a global data center operator based in India, received approval for a 5.04 billion baht investment in a new hyperscale data center which will be located in the Digital Industry and Innovation Promotion Zone (EECd) in Chonburi province.
- Xingda Steel Cord (Thailand) Co., Ltd. received approval for a 6.66 billion baht investment in a new factory to produce steel cord, bead wire and steel wire mainly for use in the manufacturing of tyres, with an annual production capacity of 260,000 tons. The plant, which will be located in Chonburi province, is expected to export 50% of its output, and will further strengthen Thailand’s automotive sector supply chain.
- TPI Polene Power PCL received approval for a 4.24 billion baht investment in the production of steam for distribution to power and cement production plants. The facility, to be located in Saraburi province, will have a production capacity of 480 tons of steam per hour, and will run on power generated from waste (refuse-derived fuel, or RDF).
For more information, please contact:
Thailand Board of Investment
Tel. +66 (0) 2553 8111
Website: www.boi.go.th
YouTube: Think Asia, Invest Thailand
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, set out to make the community’s TOKEN2049 journey more rewarding. Gearing up for the most anticipated blockchain and Web3 event in the region, Bybit is thrilled to announce three bonus events to enable both attendees and remote fans to both be part of the experience.
The winning opportunities are open to both attendees of TOKEN2049 and followers from afar. Through trading and offline events, participants stand to get free tickets, a share of the $80,000 prize pool in airdrops and coupons, and Bybit merchandise.
Event 1: TOKEN2049 Treasure Express
From now to Sep. 26, 2024, Bybit users may register for the event and complete tasks by depositing and trading assets to earn lucky draw tickets. The wheel of fortune will turn to one of the three prizes:
1. A pair of tickets to TOKEN2049;
2. A share of the airdrop prize pool valued at $50,000 featuring the hottest tokens, including DOGS, PEPE, SOL, XRP, TON and USDT; or
3. Up to 50 USDT in spot coupons.
Even more rewards await in referrals and social media giveaways. For details, visit: TOKEN2049 Treasure Express
Event 2: Share and Unlock
From now to Sep. 30, 2024, unleash your social media magic for a chance to win a 10 USDT spot trading coupon. Share a Bybit blog link and your thoughts on Bybit and Web3. Remember to tag @Bybit_Official and use the hashtag #UnlockWeb3Future and submit the form with us here: #UnlockWeb3Future at TOKEN2049 with Bybit
Event 3: Meet us offline at TOKEN2049
Spot our logo at TOKEN2049 and capture a photo at the Bybit booth (M50) to win Bybit merchandise. Remember to share to your social media channels and use the right hashtag. For details, visit: #UnlockWeb3Future at TOKEN2049 with Bybit
An advocate for a sustainable Web3 ecosystem, Bybit will be featured prominently at TOKEN2049 on a series of keynote panels, thought leadership and community events, and booth M50.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce it’s among the first to be granted consent to a full authorization by the Astana Financial Service Authority (AFSA). This milestone brings Bybit closer to becoming a fully regulated Digital Asset Trading Facility (DATF).
As part of a rigorous process, Bybit Kazakhstan has passed a full AML check, business conduct audit, and detailed compliance inspections. This is part of Bybit’s focus on securing new user opportunities in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.
“Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market,” said Ben Zhou, co-founder and CEO of Bybit. “We are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry.”
Once the full license is in place, Bybit Kazakhstan will offer various digital assets related products and services. The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.
This development follows Bybit’s receipt of its initial operating and custody licenses from AFSA in June 2023, reinforcing its commitment to local regulatory requirements. Bybit’s ongoing efforts to strengthen its presence in Kazakhstan underscore its belief in responsible growth and ensuring a compliant and secure trading environment.
Kazakhstan has quickly emerged as a hub for crypto innovation, and Bybit is proud to play a leading role in fostering this development. For example, Bybit hosted a “Foundations of Blockchain, Web3 and Crypto Exchange Activities” course for Banks of Kazakhstan in 2024. This event was part of Bybit’s drive to make blockchain education more accessible in the CIS region.
By securing this full authorization, Bybit is poised to enhance crypto adoption, provide institutional-grade security, and offer advanced trading features to its growing regional user base.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Fintech PR
Integrum ESG and CSRHub enable fund managers to monitor both long-term trends and short-term movements in ESG ratings for companies, across a 10-year time series
LONDON, Sept. 6, 2024 /PRNewswire/ — Integrum ESG, the leading alternative ESG data provider, has today announced the launch of their Consensus ESG Ratings module.
Just as investors monitor movements in consensus earnings estimates or credit ratings, investors now are aware of the demand for the ability to monitor long-term trends and short-term movements in consensus ESG ratings.
This new feature enables Integrum ESG’s asset manager clients to now see the consensus ESG score for any company, either as an absolute rating or a relative percentile ranking, across a 10-year time series.
These scores will indicate to any investor what the capital markets have ‘priced in’ for a company’s ESG performance, allowing users to quickly understand the market’s view on a company and easily conduct relative ESG analysis on the positions they hold within their Portfolio.
This regularly updated data is provided by CSRHub, the world’s leading provider of consensus ESG ratings. CSRHub has spent years aggregating and normalising a vast range of licensed sources – from large ESG ratings firms such as MSCI, ISS, S&P Global, and Sustainalytics to specialists such as CDP and Better World Companies.
Shai Hill, Founder and CEO of Integrum ESG, commented: “Many investors have told us they want a sense of ‘what is priced in’ in terms of a company’s ESG performance, so they can compare this to what anyone ESG ratings firm is saying. CSRHub is the only firm to have credibly achieved this, thanks to a model refined over years and a vast data lake – so we are delighted to be partnering with them.”
Bahar Gidwani, Co-Founder of CSRHub, added: “Investors need to fine tune their ESG-related investment strategies to improve their returns and better match the preferences of their clients. Combining CSRHub’s expert outside-in, consensus view of ESG with Integrum ESG’s detailed real-time data stream provides a strong solution for these needs.”
About Integrum ESG
Integrum ESG is the leading alternative ESG data and ratings platform for investors, blending human analysis and award-winning artificial intelligence models to capture, verify and display granular and relevant ESG data for analysis and assessment. Their Platform allows clients to dissect ESG scores, real-time sentiment, and more with a variety of unique-to-market features, empowering industry professionals and investors and giving them complete oversight of ESG risk across their portfolio.
For more information, visit www.integrumesg.com
About CSRHub
CSRHub offers the most comprehensive global set of Consensus ESG (Environmental, Social, and Governance) ratings, information, and tools. CSRHub’s business intelligence system measures the ESG business impact that drives corporate and investor sustainability decisions. Founded in 2007, CSRHub covers 56,545 public and private companies, and provides ESG performance scores on over 37,899 companies from 135 industries in 210 countries. Our Big Data platform uses algorithms to aggregate, normalize and weight ESG metrics from 957 sources to produce a strong consensus signal on corporate sustainability performance.
For more information, visit www.csrhub.com
Media Contact
Harish Karunalingam
Integrum ESG
[email protected]
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