Five-Year Investment Promotion Strategy (2023- 2028)
According to the Announcement of the Board of Investment No.8/2565 Policies and Criteria for Investment Promotion announced on December 8, 2022 which is enforced on BOI applications submitted from January 3, 2023, onward.
Vision “ Promotion of Investment to restructure Thailand’s economy into new economy” with the main objectives of restructuring Thailand’s economy to achieve 3 aspects consisting of:
1, Innovative Being an economy that is driven by technology, innovation and creativity.
2. Competitive Being an economy that is competitive, adaptive and generate high growth.
3. Inclusive Being an economy that values environmental and social sustainability, creates opportunity and reduces inequality.
Investment Promotion Criteria
1. In order to develop competitiveness in the agricultural, industrial and service sectors, projects submitted for BOI promotion must have the following qualifications:
1.1 The value-added of the project must not be less than 20% of revenues, except for projects in agriculture and agricultural products, electronic products and parts, and coil centers, all of which must have value-added of at least 10% of revenues.
1.2 Modern production processes or servicing procedure must be used and in accordance with the Board’s approval.
1.3 New machinery must be used.
1.1 The value-added of the project must not be less than 20% of revenues, except for projects in agriculture and agricultural products, electronic products and parts, and coil centers, all of which must have value-added of at least 10% of revenues.
1.2 Modern production processes or servicing procedure must be used and in accordance with the Board’s approval.
1.3 New machinery must be used.
2. Projects that have investment capital of 10 million baht or more (excluding cost of land and working capital) must obtain ISO 9000 or ISO 14000 certification or similar international standard certification within 2 years from the full operation startup date, otherwise corporate income tax exemption shall be reduced by one year.
3. Environmental protection
3.1 Adequate and efficient guidelines and measures to protect environmental quality and to reduce environmental impact must be installed. The Board will give special consideration to the location and pollution treatment of a project with potential environmental impact.
3.2 Projects or activities with type and size that are required to submit environmental impact assessment reports must comply with the related environmental laws and regulations or Cabinet resolutions.
3.3 Projects located in Rayong must comply with the Office of the Board of Investment Announcement No. Por 1/2554 dated May 2, 2011 on Industrial Promotion Policy in Rayong Area.
4. Minimum capital investment and project feasibility
4.1 The minimum capital investment requirement of each project is 1 million baht (excluding cost of land and working capital) unless specified otherwise on the list of activities eligible for investment promotion that is announced by the Board. As for knowledge-based activities, the minimum capital investment requirement is based on the minimum annual salaries expense specified in the list of activities eligible for investment promotion that is announced by the Board.
4.2 For newly established projects, the debt-to-equity ratio must not exceed 3 to 1. Expansion projects shall be considered on a case-by case basis.
4.3 For projects with investment value of over 2,000 million baht (excluding cost of land and working capital), the project’s feasibility study must be submitted with details as specified by the Board.
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