Thailand BOI will adopt the "Three Major Strategies" to accelerate the attraction of future industrial investment.

The tenure of Narit, Secretary-General of Thailand's Board of Investment (BOI), has been approved by the cabinet to be extended for one year. He stated that in the face of the accelerated shift of global investment to the ASEAN region, Thailand will adopt three major strategies of "proactivity, depth, and swiftness" to enhance its investment attractiveness and competitiveness.

In terms of investment attraction, Thailand will focus on developing six future-oriented industries: bio and green industries, electric vehicles and their supply chains, semiconductors and advanced electronics, digital and artificial intelligence, automated robots, and international headquarters. It will also strengthen investment promotion through overseas visits by the "Thailand Team" and global roadshows. The BOI will also work with the Ministry of Finance to promote the Qualified Refundable Tax Credit (QRTC), which is planned to be submitted to the cabinet for deliberation in September, while setting up a competitiveness enhancement fund to support the development of key industries.

In terms of industrial ecology, Thailand will strengthen the supply chain connection between large, medium and small enterprises, and promote talent skill upgrading, retraining and technology transfer. In terms of improving administrative efficiency, the BOI will expand the pilot of the "Thailand Fast Track". By integrating government departments, the approval time for some investment projects will be shortened by 20% to 50%, so as to further optimize the business environment and promote the early implementation of investments.

Source: Economic and Commercial Office of the Embassy of the People's Republic of China in the Kingdom of Thailand