Belaws Thailand
  • thailand
  • legal
    • Legal
      • All Legal services
      • Urgent. Same day advice
      • Immediate legal consultation
      • Document Review
    • Our expertise
      • Employment Law
      • Merger & Acquisitions
      • Restructuring & Insolvency
      • Banking & Finance
      • Real Estate
      • Startups Services
      • Blockchain Expertise
      • Energy, Mining & Infrastructure
      • Intellectual Property
      • Tax Expertise
      • Telecommunication, Media & Technology
      • Commercial Transactions
      • Family Law
      • Download your free copy of our guide, 'Starting a Business in Thailand for Foreigners,' featuring essential insights for successfully establishing a business in Thailand.
  • incorporation
    • Incorporation
      • All Incorporation services
      • Business feasibility check
      • Market research
      • Entry strategy
    • Companies type
      • BOI Company
      • Limited company
      • Branch Office
      • Representative Office
      • U.S Treaty of Amity company
      • Startups Services
    • Business Licenses
      • Foreign Business License
      • E-commerce License
      • Factory License
      • Important License
      • Restaurant License
      • See all Licences
  • Accounting & secretary
    • accounting & secretary
      • All Accounting & Secretary services
      • Urgent. Same day advice
      • Immediate consultation
      • Document review
    • corporate
      • Draft minutes
      • Changing directors
      • Share transfer
      • Registered address change
      • Capital increase
      • Meetings AGM
      • Meetings (EGM)
      • Closing a company
    • Legalisation
      • Notarisation and legalisation
      • Translation document
    • accounting
      • Bookkeeping & tax filings
      • Annual audit
      • Payroll
      • Payroll outsourcing
      • Tax
      • VAT Registration
      • Corporate Income Tax
      • Personal income tax
  • Corporate
    • accounting & secretary
      • All Accounting & Secretary services
      • Urgent. Same day advice
      • Immediate consultation
      • Document review
    • corporate
      • Draft minutes
      • Changing directors
      • Share transfer
      • Registered address change
      • Capital increase
      • Meetings (AGM)
      • Meetings (EGM)
      • Close a company
      • Translation document
      • Notarisation & Translations
      • Notarisation & Legalisation
      • Translation documents
    • accounting
      • Bookkeeping & tax filings
      • Annual audit
      • Payroll
      • Payroll outsourcing
      • Tax
      • VAT Registration
      • Corporate Income Tax
      • Personal Income Tax
  • visas
    • visas
      • All Visas services
      • Urgent. Same day advice
      • Document review
      • Immediate Visa consultation
    • live in thailand
      • Thailand LTR Visa
      • Thailand Elite Visa
      • Retirement Visa
      • Marriage visa
      • Change your visa type
      • See all visa options
    • work in thailand
      • PEO services
      • Non immigrant B Visa
      • Work Permit
      • BOI Visa & Work Permit
      • Change your visa type
  • BLOG
  • CONTACT
    • fr_FRFrançais
    • en_USEnglish
  • Menu Menu
  • INCORPORATION
  • LEGAL
  • ACCOUNTING & SECRETARY
  • VISAS
  • Blog
  • IMMEDIATE CONSULTATION
  •  
  • en_USEnglish
  • fr_FRFrançais
Belaws Home ›› Thailand ›› Blog ›› Thailand to adopt a new 5 year investment promotion strategy

News

Thailand to adopt a new 5 year investment promotion strategy

04/11/2022

Thailand’s Board of Investment (BOI) has approved a new 5 year investment promotion strategy. The purpose of this strategy is to identify industries and sectors that are essential to Thailand’s long-term development and competitiveness.

This new 5 year strategy will take effect at the start of 2023 and last until 2027.

THAILAND NARCOTICS ACT

Key points

  • The BOI strategy aims to identify industries and sectors that are essential to Thailand’s long-term development and competitiveness.
  • The BOI will create supportive policies and services to encourage both domestic and foreign investment in these industries.
  • The new 5 year strategy will be in effect between 2023 and 2027.

What is the new 5 year investment promotion strategy?

The BOI has designed and implemented a new five-year investment promotion strategy which has been designed to attract investment in innovative, high-tech, and green industries.

On October 17, 2022, the Board of Investment (BOI) announced the approval of the new Five-Year Investment Promotion Strategy. This strategy will be used to help identify important industries and sectors that are strategic to Thailand’s long-term development and competitiveness. It is hoped that this strategy will attract new investment within these identified areas. In order to do this, the BOI will create supportive policies and services to encourage both domestic and foreign investment in these industries.

The strategy will be in effect between 2023 and 2027.

Restructuring Thailand’s economy

The BOI’s investment promotion strategy is set to become a significant part of shifting Thailand into “the new economy era”. The “new economy era” broadly aligns with Industry 4.0, which refers to the application of automation, artificial intelligence, and smart technology in the economy.

The BOIs strategy will follow these three core concepts:

  1. Innovation, technology, and creativity;
  2. Competitiveness and the ability to adapt quickly; and
  3. Inclusiveness, taking into account environmental and social sustainability.

It is important to note that these concepts do not refer to specific areas or industries, but can be viewed as principles to guide how Thailand should develop its economy.

Furthermore, the BOI hopes that strategies such as these will strengthen Thailand’s status as a regional hub for business, trade, and logistics.

The strategy’s seven pillars

The strategy has identified seven pillars for turning the BOI’s investment promotion policies into reality. These pillars are the key areas of industry development and policy reforms identified by the BOI.

The seven pillars are as follows:

  1. The upgrade of existing industries, this will be done in parallel with the development of new industries in which Thailand has a high potential.
  2. The acceleration of the industrial transition to green and smart industries through investments in automation, digital adoption, and decarbonization.
  3. The promotion of Thailand as a business hub, and an international trade and investment gateway for the region.
  4. Strengthening SMEs and startups, and making sure they have the access they need to the global market and supply chain.
  5. The promotion of investments in the different regions of Thailand.
  6. The promotion of investments that will promote community and social development.
  7. The promotion of Thailand’s overseas investment to expand business opportunities for Thai companies.

These seven pillars share several similarities. For example, all the areas listed aim to digitize the economy, create green industries and processes, and promote inclusive growth across Thailand’s regions and communities.

Who will this strategy benefit the most?

The industries that will benefit most from these pillars include electric vehicle manufacturers, bio-circular green (BCG) industries, and automated manufacturing systems, among others. Further, Thailand will put far greater emphasis on developing innovation and R&D capabilities, to help develop a stronger knowledge-based economy.

How will the BOI support this strategy?

The BOI will support this strategy through the use of incentives, service support, and policies that improve the business environment. Over the next five years, the BOI is expected to put greater emphasis on increasing support for both domestic and foreign investors by improving Thailand’s business environment and ease of doing business.

Thailand and the BOI will continue to offer tax benefits and other incentives to continue to support investment in target industries and regions.

How can Belaws help?

To learn more about the BOI in Thailand, why not talk directly to one of our experts?

Talk to an expert

Please note that this article is for information purposes only and does not constitute legal advice.

Share this post
  • Share on Facebook
  • Share on Twitter
  • Share on WhatsApp
  • Share on LinkedIn
  • Share by Mail
Immediate Consultation
Book now

Our consultations last for a period of up to 1 hour and are conducted by expert Lawyers who are fluent in English, French and Thai.

Consultations can be hosted via WhatsApp or Video Conferencing software for your convenience. A consultation with one of our legal experts is undoubtedly the best way to get all the information you need and answer any questions you may have about your new business or project.

USD 150

Up to 1 hour

Online payment (Paypal or Credit card)

Legal consultation can be conducted in English, French or Thai

Legal consultations are handled by experienced lawyers from the relevant fields of practice

Frequently asked questions

Do expats pay income tax in Thailand?

Thailand imposes an income tax on any income earned in Thailand for both resident and non-residents individuals. This tax will be imposed regardless of whether such income is paid in or outside of Thailand.

Do Thai citizens pay taxes?

Yes, Thai citizens are subject to tax.

What happens if you dont pay tax in Thailand?

You will be subject to Imprisonment for a term up to 1 year; or a. Fine up to 200,000 Baht; or. Both.

What’s the average cost of living in Thailand?

On average, $1,500 a month is accepted as a suitable income for a comfortable life in Thailand.

How can I avoid tax in Thailand?

It is not recommended to avoid paying tax in Thailand.

Do expats pay tax in Thailand?

Thailand imposes an income tax on any income earned in Thailand for both resident and non-residents individuals. This tax will be imposed regardless of whether such income is paid in or outside of Thailand.

Related articles

Buying real estate in Thailand with crypto-currencies real-estate buy a property in Thailand?

Buying real estate in Thailand with crypto-currencies

05/08/2021
Is it possible to use your crypto to buy a property in Thailand? In theory, yes, but in practice it depends.
August 15, 2021/by bertrand_admin_belaws
What is the cost of registering a company in Thailand?

What is the cost of registering a company in Thailand in 2025?

21/10/2021
All you need to know about the cost of creating and registering a company in Thailand.
October 21, 2021/by bertrand_admin_belaws
Raising funds in Thailand with a SAFE

Raising funds in Thailand with a SAFE

21/10/2021
As an entrepreneur seeking funding in Thailand, there are a variety of term sheet options available, including the SAFE (Simple Agreement for Future Equity).
October 21, 2021/by bertrand_admin_belaws

Subscribe today

Subscribe today

To our newsletter for all the latest legal news
in South East Asia, Belaws updates and
special promotions on our services.

To our newsletter today for all the latest legal news in South East Asia,
Belaws updates and special promotions on our services.

+66 (0) 63 695 5945

We are open:
Monday – Friday
9 am – 6 pm (UTC+7)

Email us

SERVICES

Legal

Incorporation

Accounting & Secretary

Visas

Immediate ConsultationNew

COMPANY

About

Careers

Press & Media

Terms of Services

Privacy Policy

Sitemap

Resources

Belaws Thailand Blog

Facebook Thai Visa Belaws

Ebook on Condo purchase

Ebook Employment Law

Our Offices

Thailand

Singapore

Hong Kong

Cambodia

Vietnam

Belaws 2017 - 2025.
Belaws provides information and software only. Belaws is not a "lawyer referral service" and does not provide legal service or participate in any legal representation.
Belaws is not a law firm or a substitute for an attorney or a law firm. The use of Belaws is subject to our Terms of Use.

2022 Tax filing deadlines for Thailand 2022 Tax filing deadlines Thailand to prepare new regulations for Digital Platforms Thailand to prepare new regulations for Digital Platforms
Scroll to top