The Thai government is focusing on attracting additional investments into five key “future industries” by simplifying business operations through revisions in legislation, as stated by Jirayu Houngsub, the spokesman for the Prime Minister’s Office.
Jirayu said that the investment promotion plan is expected to boost Thailand’s economic growth to exceed 3%, referencing a summary from Prommin Lertsuridej, the secretary-general to Prime Minister Paetongtarn Shinawatra.
The targeted sectors include data centers, artificial intelligence (AI), electric vehicles, precision agriculture, and food technology, as revealed by Jirayu.
He noted that the government anticipates attracting investments totaling at least 800 billion baht from both domestic and foreign sources in these sectors within this year.
Additional plans related to enhancing the supply chain networks for these industries are expected to further boost investment inflows to Thailand, both now and in the future, Jirayu explained.
For example, major technology corporations like Amazon Web Services, Google, Microsoft, and Huawei have already started investing in Thailand’s data center sector.
To encourage more investments from these and other companies, outdated regulations and laws perceived as barriers will soon be revised or removed, according to Jirayu.
“The Prime Minister has considered it crucial to vastly improve the ease of doing business in order to facilitate economic growth through investment promotion,” he said.
The Ministries of Transport, Interior, and Agriculture are tasked with ensuring that investing in these five industries is as convenient as possible.
Jirayu also stated that the process for obtaining operating licenses and investment incentives from the Board of Investment (BoI) will be made quicker and more streamlined.
The Prime Minister firmly believes that Thailand’s strategic position at the heart of Southeast Asia uniquely positions it to become a central hub for logistics, trade, and barter, he added.
Furthermore, the government is intensifying efforts to promote tourism, aiming to make Thailand an ideal year-round destination for international travelers, the spokesman indicated.
“There will no longer be a low tourism season in Thailand,” he concluded.
