The Thai government has approved four infrastructure megaprojects worth a combined US$14 billion in an effort to rev up new investment in the country’s Eastern Economic Corridor at a time when trade disputes and uncertain external factors weigh on the country’s growth, Nikkei Asian Review reports. Southeast Asia is seeing a boom in foreign direct investment as the intensifying trade war between the U.S. and China prompts companies to shift production to the region, according to a Bloomberg report. In January through July, Thailand’s net FDI rose 53 percent from a year earlier to $7.6 billion, with manufacturing inflows surging almost five times, according to central bank data. Meanwhile, analysts said that Thailand’s economy and banks should be able to weather heightening global risks from rising US interest rates, although escalating trade wars could pressure global growth next year.