BANGKOK, Sept. 11 (Xinhua) -- Thailand has fast-tracked regulatory approvals for 3.66 billion U.S. dollars in strategic industrial investments and introduced fresh tax incentives for firms listing on the domestic bourse, the country's Board of Investment (BOI) said on Friday.
The BOI meeting chaired by Thai Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas approved the measures, marking a structural pivot away from low-margin manufacturing incentives toward advanced technology, domestic supply-chain integration, and realized capital deployment.
The strategy aims to lift national investment to 30 percent of gross domestic product and sustain economic expansion above 3 percent annually, said BOI Secretary General Narit Therdsteerasukdi.
The move also aligns with the Southeast Asian country's push to reach the top 20 in global competitiveness and become a high-income nation within 12 years, Narit said in a statement.
The board approved a third intake of 17 projects under its "FastPass" mechanism, which imposes strict inter-agency service-level agreements to speed up licensing and plant commissioning. The package is projected to create more than 14,000 jobs.
Advanced electronics and electrical components dominated the approvals, accounting for 10 projects valued at 2.54 billion dollars. Other cleared investments span processed foods, pet nutrition, and precision automotive components.
The approvals bring Thailand's cumulative fast-track pipeline across three intakes to 42 projects worth 10.39 billion dollars and 27,000 skilled jobs.
In a bid to anchor multinationals locally, the BOI partnered with the Securities and Exchange Commission and the Stock Exchange of Thailand to launch the "BOI to IPO" program.
The scheme accelerates listing reviews, offering SET-certified "New Economy" companies up to three additional corporate tax-exempt years, or a 50 percent tax rate cut for five years. Other promoted companies can claim up to two additional tax-exempt years or a 50 percent cut for three years. ■
