News

The Thailand Board of Investment (BOI) held a board meeting on 11 September and approved a new "BOI to IPO" measure: promoted companies that move toward listing on the Stock Exchange of Thailand can receive additional corporate income tax incentives on top of their existing ones, with new economy companies eligible for up to five extra years of 50% tax reduction. At the same meeting, the BOI announced that the focus of investment promotion will shift from "investment volume" to "real investment and value creation".

1. BOI to IPO: Linking Listing to Tax Incentives

The BOI board approved the new "BOI to IPO" policy, which the BOI will promote jointly with the Stock Exchange of Thailand (SET) and the Securities and Exchange Commission (SEC). It encourages promoted companies with potential to apply for listing in Thailand and to keep the funds raised in the country for reinvestment.

The incentives come in two tiers:

• "New economy" companies as certified by the SET: an additional 3 years of corporate income tax exemption, or an additional 5 years of 50% reduction.

• Other companies: an additional 2 years of exemption, or an additional 3 years of 50% reduction.

This is a "stacked" incentive, built on top of a company's existing BOI promotion privileges. For Chinese companies that have obtained or are about to obtain BOI status and already have capital market plans, the measure adds a layer of tax value to a Thai listing, something that was previously driven mainly by financing considerations.

2. A Major Shift in Investment Promotion Direction

The same board meeting approved a new round of adjustments to the investment promotion strategy. The core change is a shift from pursuing "investment volume" to "real investment and value creation", focusing on five priorities: higher added value, supply chain linkages, high-skilled employment, R&D investment and technology transfer.

This shift has practical implications for Chinese companies. When reviewing projects in the future, the BOI may give more weight to whether a project builds substantive production capacity in Thailand and drives the local supply chain, and simple assembly or re-export projects may find it harder to obtain high-level incentives. When preparing business plans, companies should give correspondingly more weight to the local procurement ratio, the composition of technical staff and R&D arrangements.

3. 17 More Projects Added to FastPass

The meeting also approved 17 new projects for the Thailand FastPass green channel, with a total investment of THB 121 billion (approx. RMB 26.6 billion), expected to create more than 14,000 jobs. By industry: electronics, 10 projects / THB 83.9 billion; processed food, 2 projects / THB 24.3 billion; animal feed, 2 projects / THB 8.8 billion; automotive, 3 projects / THB 4.3 billion.

FastPass has now reached a cumulative total of 42 projects with THB 344 billion in investment (approx. RMB 75.7 billion), creating more than 27,000 jobs.

4. Three Other Projects Approved

The same meeting also approved 3 other investment projects with a combined value of THB 9.64 billion (approx. RMB 2.1 billion):

In addition, a steel company whose privileges had been suspended for violating the Factory Act and industrial product standards has had its privileges restored, retroactive to 5 June 2026, after the Ministry of Industry verified that it had completed remediation. The BOI said it will continue joint supervision with the Ministry of Industry. This case shows that BOI privileges are not permanently secure once approved: a company's ongoing compliance status directly determines whether its privileges continue.

Key Takeaways

• BOI to IPO: new economy companies get an extra 3 years of exemption or 5 years of 50% reduction; other companies get an extra 2 years of exemption or 3 years of 50% reduction. SET certification and progress toward listing are required.

• Investment promotion is shifting toward real investment and value creation, focusing on added value, supply chains, high-skilled employment, R&D and technology transfer.

• FastPass added 17 projects / THB 121 billion in this round; cumulative total of 42 projects / THB 344 billion / more than 27,000 jobs.

• 3 other projects totalling THB 9.64 billion were approved, covering wind power, aseptic packaging and PCBA electronics.

• A steel company's privileges were suspended over compliance issues and restored after remediation (retroactive to 2026-06-05), confirming that post-approval compliance determines whether privileges continue.

Z&X Tip

"BOI to IPO" is an incentive layered on top of existing promotion privileges, so the prerequisite is that a company first obtains, and then keeps, its BOI status. Z&X's BOI investment promotion application service follows a five-step process: consultation and assessment, document preparation, application and follow-up, interview support, and post-approval support. Our BOI full-cycle compliance service covers systems and filings, import and logistics, production and reconciliation, periodic reports, and visa services. The detailed application rules for the new measure are still awaiting further BOI announcements; eligibility must be assessed case by case and is subject to the determination of the competent authorities.

Sources

• Original title: บอร์ดบีโอไอไฟเขียวมาตรการ “BOI to IPO” พร้อมปรับใหญ่ทิศทางส่งเสริมลงทุน เร่ง “ลงทุนจริง–สร้างคุณค่า”

• Agency: Thailand Board of Investment (สำนักงานคณะกรรมการส่งเสริมการลงทุน / BOI) | Press release No. PR155/2569

• Date: 2026-09-11

• URL: https://www.boi.go.th/index.php?page=press_releases_detail&topic_id=139325&_module=news&from_page=press_releases2