Ekniti optimistic on continued AI investment

The outcome of the US midterm elections could trigger volatility in the global economy, but investment in the artificial intelligence (AI) industry is expected to continue flowing into Thailand, says Finance Minister Ekniti Nitithanprapas.

Mr Ekniti said Thailand is one of only four countries identified by the International Monetary Fund as benefiting from the expansion of the AI supply chain, and he believes investment in this industry will continue to flow into Thailand. The other three beneficiaries are Vietnam, Malaysia and South Korea.

Democrats won control of both chambers of Congress, a result analysts said should have implications for the AI and data centre industries backed by President Donald Trump.

"Negative impacts on the Thai economy could arise from volatility in financial and capital markets, but such fluctuations are believed to be short-term," said Mr Ekniti.

"Regarding trade negotiations between Thailand and the US, discussions are continuing. At the Apec meeting in China on Nov 18-19, the Thai prime minister is expected to have an opportunity to meet with the US president. Thailand will seek to negotiate the best possible agreement to ensure that Thai businesses remain competitive."

The government is working to strengthen the country's economy to withstand global volatility, particularly by maintaining fiscal stability, he noted.

As of September 2026, Thailand's public debt tallied 68.6% of GDP, while US public debt exceeded 100% of GDP. This has contributed to US 10-year government bond yields reaching as high as 5%, compared with just 2% in Thailand.

In 2025, the Board of Investment (BoI) received 3,370 investment promotion applications, up 11% year-on-year, while total investment value reached 1.88 trillion baht, a gain of 67%.

The major industries seeking investment promotion included data centres, electronics and electrical appliances, auto manufacturing, and electric vehicle parts.

Last year, a total of 3,205 projects received investment promotion approval, representing an investment value of 1.62 trillion baht. Actual investment was recorded in 2,779 projects, with a total project value of 1.15 trillion baht.

During the first nine months of 2026, the BoI received 1,954 investment applications with a total investment value of 1.71 trillion baht, an increase of 28% from the previous year.

The digital industry accounted for the highest investment value, totalling 1.17 trillion baht.

During the same period, 1,951 projects received investment promotion approval, representing 1.51 trillion baht in investment, while actual investment was recorded in 1,961 projects, with a total value of 1.05 trillion baht.