The Thailand Board of Investment (BOI) has recently approved a new set of measures aimed at bolstering small and medium-sized enterprises (SMEs) and stimulating investment in the country’s tourism sector, particularly in second-tier provinces. These initiatives come in response to heightened global economic uncertainties, including the trade tensions sparked by the protectionist policies of the U.S.A. According to Mr. Narit Therdsteerasukdi, Secretary-General of the BOI, the latest measures are intended to help Thai entrepreneurs enhance their capabilities and competitiveness amid intense global competition and ongoing disruptions in international trade. A key component of the BOI’s strategy is to ensure that foreign direct investment (FDI) actively contributes to the development of Thailand’s broader economic ecosystem—particularly through the transfer of technology, human resource development, and integration with domestic supply chains.
- Enhanced Tax Incentives for SMEs: BOI-promoted SMEs enjoy a five-year corporate income tax (CIT) exemption of up to 100% of investment in capability improvements—up from the previous three-year, 50% exemption.
- Support for Second-Tier Tourism: The BOI has introduced incentives to attract investment in tourism infrastructure across 55 second-tier provinces, in line with government efforts to spread tourism revenue and develop new attractions.
- Strategic Project Approvals: Investment promotion was granted to seven major projects, including five data centres and two wind power plants, reflecting Thailand’s push toward digital infrastructure and renewable energy.
BOI approves new incentives to support SMEs_Bangkok Global Law