วันพุธที่ 19 ตุลาคม 2565
New investment promotion strategy (2023-2027) sets out to promote investment to restructure national economy
New investment promotion strategy (2023-2027) sets out to promote investment to restructure national economy
October 18, 2022, Deputy Secretary-General to the Prime Minister and Acting Government Spokesperson Anucha Burapachaisri disclosed that the Board of Investment (BOI), chaired by Prime Minister and Defense Minister Gen. Prayut Chan-o-cha, has made approval at their latest meeting to the draft 5-Year Investment Promotion Strategy (2023-2027) to restructure Thailand into the “new economy” through enhancing national competitiveness, and strengthening the country's status as a regional hub for business, trade and logistics.
The Prime Minister emphasized the importance of comprehensive investment promotion, and the need for the development and change to keep up with both current and future situation and challenges. The new 5-Year Investment Promotion Strategy is aimed to promote investment for the restructure of national economy under 3 key concepts, namely, 1) Innovative: to promote innovation, technology, and creativity-driven economy; 2) Competitive: to promote competitive, resilient, and fast-growing economy; and 3) Inclusive: economic development that takes into account socio-environmental sustainability, opportunity creation, and disparity reduction.
Under the new 5-Year Investment Promotion Strategy, 7 milestones have been identified:
The upgrade of existing industries, in parallel with the building of new industries in which Thailand has a high potential, and an overall strengthening of the supply chain
The acceleration of the industrial transition to green and smart industries through investments in automation, digital adoption and decarbonization
The promotion of Thailand as a business center, and an international trade and investment gateway for the region
The strengthening of SMEs and startups, ensuring they are connected to the global market and supply chain
The promotion of investments in the different regions of Thailand that fits the potential of each area and enables inclusive growth
The promotion of investments that will promote community and society development
The promotion of Thailand’s overseas investment to expand business opportunities for Thai companies
To reach these milestones, the BOI will broaden its role from that of a ‘Promoter’ providing tax and non-tax benefits, to focus on becoming an ‘Integrator’ of investment support tools, a ‘Facilitator’ providing services, and a ‘Connector’ linking industries to create more business opportunities.” In view of the challenging, volatile, and highly competitive global environment, the BOI will stay ahead of changes and keep promoting investment in a way that achieves concrete results, helping to lead Thailand into the new economy.
According to the Government Spokesperson, the Government never ceases to develop new investment promotion strategies. Looking at the number of investment promotion applications received up until now, it can be predicted that inward foreign investment will significantly increase in the next 1-2 years, which would help Thailand to achieve its goals.