What is the Board of Investment Thailand?
- The Board of Investment of Thailand was established in 1966 to promote and facilitate foreign and domestic investments through various incentives and support services.
- The BOI plays a crucial role in economic growth, job creation, and enhancing Thailand’s global competitiveness, with liaison offices in major cities worldwide.
- Recent developments include increased investment applications, new promotional categories in emerging sectors, and strengthened global partnerships.
Board of Investment of Thailand Overview
The Board of Investment (BOI) of Thailand is a government agency dedicated to fostering and facilitating both foreign and domestic investments within the country.
Established in June 1966 under the Industrial Promotion Act, the BOI’s primary objective is to ensure that Thailand is promoting itself to investors by utilising various incentives and supporting services.
Since its inception, the BOI has played a pivotal role in attracting investment into the country, resulting in significant economic growth for Thailand.
While the agency reports directly to the Office of the Prime Minister, it has offices across various major world cities.
Mission and Objectives
Promote Investment into Thailand: The BOI’s primary aim is to attract both foreign and domestic investments by offering a variety of incentives and support services tailored to the needs of investors to encourage them to invest in Thailand.
Economic Development: The agency focuses on developing economic growth, generating employment opportunities throughout Thailand, and enhancing the country’s competitive edge in an ever-changing global economy.
Sustainable Development: As sustainable development is a necessity, the BOI encourages investments in sectors related to sustainable development, including renewable energy, advanced technology, and healthcare technologies.
Investment Promotion
Incentives: To encourage more investment into Thailand, the BOI offers a wide range of tax and non-tax incentives, all designed to attract investment into the country.
Eligible Activities: There are various industries that the BOI would like to invest in Thailand, including automotive, artificial intelligence, data centres, electronics, and digital technology to name a few.
Application Process: To apply for BOI promotion, potential investors must submit various documents, meeting the specific eligibility criteria set by the BOI. To ensure investors are well placed to capitalise on the incentives offered by the BOI, it is essential that they seek the services of reputable law firms.
Support Services
One-Stop Service: To enhance and simplify the investment process, the BOI created the One-Stop Service Center, tasked with assisting investors with obtaining the necessary permits, licences, and other regulatory approvals.
Aftercare Services: The BOI provides continuous support to investors, ensuring their operations run smoothly and efficiently within Thailand. This includes addressing any challenges or issues that may arise after the initial investment is made, offering guidance and assistance throughout the entire investment lifecycle to help investors overcome obstacles and achieve sustained success.
Recent Developments
Increased Investment: In recent years, the BOI has experienced a substantial increase in investment applications, particularly in the electronics and digital sectors, reflecting growing investor confidence in Thailand.
Strategic Sectors: The BOI has introduced new promotional categories targeting emerging sectors such as biochemicals, data centres, and electric vehicle battery repair, aligning with global economic trends. With the ongoing geopolitical concerns, the BOI has tried to pivot Thailand as a safe place to do business.
Global Partnerships: To ensure Thailand’s continued growth via foreign investment, the BOI has strengthened its collaborations with international investors, notably from countries like Singapore, China, and Japan, fostering a robust network of global partnerships.
What we can do for your business
WSR International, equipped with a specialized corporate and commercial team, is committed to assisting international companies with all matters related to the Board of Investment. Our commercial and legal expertise ensures that your investment in Thailand is both strategic and successful.
If you have specific questions or require further assistance, feel free to reach out to the team at WSR International.
