Thailand channels $3.66bn projects through fast-track

Thailand has allocated 121 billion baht to 17 strategic industrial projects, placing them on an accelerated approval track with added tax incentives. These measures, approved by the Board of Investment (BOI) at a meeting led by Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas, are aimed at attracting technology-focused companies to list on domestic capital markets.

The 17 projects, submitted by 15 companies, are expected to generate over 14,000 jobs, with electronics and electrical manufacturers accounting for the majority at 83.92 billion baht. The BOI has also launched a BOI-to-IPO program in collaboration with the Securities and Exchange Commission and the Stock Exchange of Thailand. This fast-track approach, known as the Thailand FastPass mechanism, uses service-level agreements among state agencies to expedite licensing timelines and move projects swiftly from applications to operation.

The scheme's portfolio has now expanded to 42 strategic projects across three rounds, with planned investments totaling 344 billion baht and projected employment of more than 27,000 people. The BOI is focusing on measuring the quality and domestic value generated by investments, rather than just application volumes, to support higher investment and productivity.