The Board of Investment approved the measures at a meeting chaired by Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas, expanding the Thailand FastPass mechanism and launching a BOI-to-IPO programme with the Securities and Exchange Commission and the Stock Exchange of Thailand.
The 17 projects, submitted by 15 companies, are expected to create more than 14,000 jobs. Electronics and electrical manufacturers account for 10 projects worth 83.92 billion baht, close to 70 per cent of the latest batch, according to the BOI.
Two processed-food projects represent investment of 24.34 billion baht, two pet nutrition projects total 8.80 billion baht, and three precision machinery and automotive component projects amount to 4.36 billion baht.
The additions take the FastPass portfolio to 42 strategic projects across three rounds, with planned investment exceeding 344 billion baht and projected employment of more than 27,000 people. The scheme uses service-level agreements across state agencies to shorten licensing timelines, address approval bottlenecks and move projects more quickly from investment applications to construction and operation.
The first two FastPass rounds covered 25 projects from 23 companies worth more than 223 billion baht and were expected to generate over 13,000 jobs. All 25 have received investment-promotion approval, 19 have been issued investment certificates and 11 have completed all required permits within the prescribed service-level deadlines. Actual investment by projects in the programme has exceeded 21 billion baht.
Alongside the approval drive, the BOI said it was shifting the way it evaluates investment promotion, placing greater weight on realised investment, domestic value added, links with small and medium-sized suppliers, high-skilled employment, research and development, technology transfer and capital-market participation.
The policy overhaul also narrows support for activities that contribute limited local value, with the BOI saying incentives will increasingly favour advanced manufacturing, technology transfer and deeper integration of domestic vendors. New operational indicators will measure how many approved projects become investments and how quickly agencies process approvals.
Narit said the policy seeks to lift investment to 30 per cent of gross domestic product, support annual economic growth above 3 per cent and improve Thailand’s competitiveness ranking. Those objectives are government targets rather than assured outcomes and will depend on investment execution, productivity gains and economic conditions.
BOI secretary-general Narit Therdsteerasukdi said the agency was moving towards measuring the quality and domestic value generated by investment rather than focusing mainly on application volumes. He said the government wanted targeted measures in strategic sectors to support higher investment and productivity.
The BOI-to-IPO programme is designed to help promoted companies, particularly businesses in sectors classified as part of the New Economy, raise capital through Thailand’s exchanges and expand their operations. The SEC has shortened its IPO approval process, while the stock exchange is easing certain market-capitalisation and operating-track-record requirements for qualifying New Economy companies.
A special listing pathway is also being provided for companies promoted by the BOI or the Eastern Economic Corridor, linking investment incentives with access to equity financing.
Promoted companies that list on the Stock Exchange of Thailand, the Market for Alternative Investment or the LiVEx board can qualify for additional tax relief. SET-certified New Economy companies may receive up to three additional years of corporate income-tax exemption, or a 50 per cent reduction for five years.
Other promoted companies that list can receive up to two additional tax-free years, or a 50 per cent reduction in corporate income tax for three years, subject to the programme’s conditions.
Narit said the policy was intended to allow companies that had established successful operations in Thailand to finance new plants and production lines, invest in research and technology, and expand overseas while retaining Thailand as a business base.
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