Multinational corporations (MNCs) form one of the three supports of the dominant capital tripod in latecomer countries. This chapter explores the concept of dependency theory, studying MNC dominance and notes that latecomer country economic growth relies on world trade expansion and foreign capital inflow, rather than indigenous technology advancement. The effect of MNCs on human capital investment in the host country is also analysed. Then, advantages and disadvantages of foreign direct investment (FDI) in Thailand will be reviewed, based on past experiences and future challenges.In addition, this chapter examines how foreign and Thai capital groups play a role in economic development, development concentration, and technological transfer. It looks at projects approved for investment promotion by the Board of Investment (BOI) from 2016 to 2019 (number of project and investment value) divided into three categories, by proportions of foreign projects, ten target industries, and three eastern provinces.