Thailand Issues Investment Promotion Strategy For 2023–2027

Thailand's Board of Investment (BOI) has issued a new investment promotion strategy for the next five years (2023–2027). The strategy was detailed in Announcement No. 8/2565 on December 8, 2022, and will take effect in January 2023. Replacing the BOI's current eight-year scheme (2015–2022), it will apply to all applications for investment promotion submitted from 8:30 a.m. on January 3, 2023, onward.

Under the new scheme, the BOI will shift its focus to three core concepts deemed vital to the country's future economy: (1) technology, innovation, and creativity; (2) competitiveness and adaptability; and (3) inclusiveness (especially in regard to environmental and social sustainability). This is complemented by a new set of investment promotion policy aims that cover, for example, supply chain reinforcement, conversion to smart and sustainable industry, promotion of Thai SMEs with global connections, and so on.